Global Education Platform Crizac Targets ₹860 Crore via Offer for Sale

Crizac Limited to Launch ₹860 Crore IPO on July 2

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BILKULONLINE
By Rafat Quadri

Ahmedabad, June 30: Crizac Limited, a B2B education platform renowned for international student recruitment solutions, has announced the price band of ₹233 to ₹245 per equity share for its maiden Initial Public Offering (IPO). The issue will open for subscription on Wednesday, July 2, 2025, and close on Friday, July 4, 2025.

The IPO is entirely an Offer for Sale (OFS), with promoter shareholders Pinky Agarwal and Manish Agarwal offloading shares worth ₹723 crore and ₹137 crore respectively, aggregating to ₹860 crore at the upper end of the price band. Investors can bid for a minimum of 61 equity shares and in multiples thereof.

With the slogan “Your Gateway to Global Connection”, Crizac Limited aims to revolutionize international student mobility by acting as a critical bridge between higher education institutions and students across the globe. Incorporated on January 3, 2011, as GA Educational Services Private Limited, the company has evolved into one of the leading education platforms offering B2B recruitment solutions for institutions in the United Kingdom, Canada, Republic of Ireland, Australia, and New Zealand.

Interacting with the media in Ahmedabad on Monday, Dr. Vikash Agarwal, Chairman and Managing Director of Crizac Limited, said,“Crizac is one of the leading education platforms offering international student recruitment solutions to higher education institutions across major destination countries. Our goal is to build a stronger platform where agents can access our expertise and knowledge to expand their connections with international institutions, thereby establishing a profitable and sustainable business network for all. We simplify the application and admission process by bringing our channel partners and institutions together on a single platform.”

Crizac has made significant strides since its early collaboration with the Institute of Technology Tralee, Ireland, in 2014. In FY2024-25, the company further expanded its global footprint by acquiring 100% shares of Crizac UK, entering into key agreements including a Business Purchase Agreement with Raj Consultants FZCO, and multiple consulting and outsourcing agreements with Crizac UK.

Crizac processed over 7.11 lakh student applications in the last three fiscals while working with more than 173 global educational institutions. Its clientele includes prominent names like University of Birmingham, University of Surrey, University of Greenwich, Nottingham Trent University, and Aston University. It maintains a robust agent network of 2,237 active agents in India and 1,711 agents across 39 countries including the UK, Nigeria, Pakistan, Bangladesh, Kenya, Vietnam, and Canada.

Manish Agarwal, CFO and Director of Crizac Limited, highlighted the company’s growth trajectory:

“In Fiscal 2025, our revenue from operations saw a robust 33.81% growth to ₹849.49 crore, up from ₹634.87 crore in the previous fiscal. Profit after tax also witnessed a strong increase of 28.62%, reaching ₹152.93 crore. This reflects our efficient operations and growing demand for cross-border education consultancy services.”

Prashant Rao, Director at Anand Rathi Advisors Limited, one of the Book Running Lead Managers, added,

“Crizac stands out as a compelling player in the cross-border education space. With its strong institutional tie-ups, agent network, and digital capabilities, it offers investors exposure to a high-growth, asset-light business model with global relevance.”

Equirus Capital Private Limited and Anand Rathi Advisors Limited are the Book Running Lead Managers to the issue, while MUFG Intime India Private Limited is the registrar. The IPO is being offered through the book-building route with allocation set as per SEBI norms: not more than 50% of the offer is reserved for Qualified Institutional Buyers (QIBs), at least 15% for Non-Institutional Investors (NIIs), and a minimum of 35% for Retail Individual Investors (RIIs).

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(Rafat Quadri can be contacted at editorbilkul@gmail.com)