Crizac's Initial Public Offering (IPO) will be open for subscription until Friday, July 4, 2025.
Crizac, a B2B technology company operating in the education sector, has opened its Initial Public Offering (IPO) for investors from July 2, 2025. The issue will remain open until July 4th. The company aims to raise ₹860 crore through this public issue.
Raised ₹258 crore from anchor investors before the issue
Prior to the IPO launch, Crizac raised ₹258 crore from anchor investors. The company stated in its filing with the stock exchange that it has issued 10.53 million equity shares at a price of ₹245 per share. The face value of these shares is set at ₹2.
Several prominent institutions participated in the anchor investment. These include Societe Generale, Pinebridge Global Funds, Shamyak Investment (Enam Group), 360 One Equity Opportunity Fund, Motilal Oswal MF, Bandhan MF, Aryabhata India Fund (Abakkus Group), ICICI Prudential MF, Allianz Global Investors Fund, Carnelian Bharat Amritkaal Fund, Axis Max Life Insurance, and Kotak Mahindra Life Insurance.
Entirely an Offer for Sale
This IPO of Crizac is entirely an Offer for Sale, comprising 35.1 million equity shares. This means that the company will not receive any funds from this issue. The issue is a means for the existing shareholders of the company to sell their shares, thereby reducing their holdings and raising capital from the market in exchange for that portion.
Issue Price and Lot Size
The company has fixed the price band for its IPO at ₹233 to ₹245 per share. One lot will consist of 61 shares. This means that retail investors will have to bid for at least one lot.
If an investor applies for one lot at the upper price band of ₹245, they will have to spend ₹14,945. Retail investors can apply for a maximum of 13 lots, i.e., a total of 793 shares. The total cost will be approximately ₹1,94,285.
Share Allotment and Listing's Tentative Dates
The subscription for the IPO will close on July 4th. Following this, the share allotment process is likely to be completed on July 7th. Crizac's shares are expected to be listed on the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) on July 9th.
Who are the Lead Managers?
The registrar for this public issue is MUFG Intime India, formerly known as Link Intime. Equirus Capital and Anand Rathi Advisors have been chosen as the book-running lead managers for this issue.
What does Crizac do?
Crizac is an education technology company operating on a B2B model. The company collaborates with various educational institutions, colleges, and education providers to offer digital platforms, learning solutions, and technology-based services.
The company's network extends to several international markets, including India, and its client portfolio includes major universities and education brands.
Investor interest in this IPO
This issue of Crizac is also considered special because companies in the education sector rarely bring out IPOs. Moreover, the company's b customer base and technological expertise are generating interest among investors.
The participation of anchor investors has also instilled confidence in the market regarding this issue. Several major mutual funds and investment firms have already taken a stake in this issue.
Size determined with retail investors in mind
Crizac has included only 61 shares in a lot to encourage retail investor participation, enabling common investors to acquire a stake.
