Shree Ram Twistex IPO GMP
Crizac’s much-anticipated initial public offering (IPO) opened for subscription today, Wednesday, July 02, and will remain open until Friday, July 4. The Kolkata-based education services company is offering shares in the price band of ₹233–245 each. Investors can bid for a minimum of 61 shares and in multiples thereafter. This IPO is a complete offer-for-sale (OFS) worth ₹860 crore by Crizac’s promoters, who will offload over 3.51 crore shares. Since it’s an OFS, the company will not receive any proceeds from the offering.
Founded in 2011, Crizac is a B2B platform that partners with global institutions to provide student recruitment solutions in countries such as the UK, Canada, Ireland, Australia, and New Zealand. For FY25, the company reported a net profit of ₹152.92 crore on revenue of ₹884.78 crore—an improvement from FY24’s net profit of ₹118.90 crore and revenue of ₹763.44 crore. The company’s market capitalization stands at ₹4,287 crore. Ahead of the IPO, Crizac raised ₹258 crore from anchor investors including Allianz Global Investors, Pinebridge Global Fund, Bandhan Mutual Fund, and others.
SBI Securities has issued a ‘subscribe’ rating, citing Crizac’s established presence in international education consultancy and its strategic move to enter the US market. The firm has diversified its offerings geographically and is eyeing expansion into B2C ancillary services, which could boost both revenue and margins. Crizac’s financials reflect strong growth, with a two-year CAGR of 76% in revenue, 43% in EBITDA, and 18% in PAT. The issue is priced at a P/E multiple of 28x FY25 earnings, which SBI Securities considers fair when compared to peers.
Crizac’s shares are expected to be listed on both BSE and NSE, with a tentative listing date set for Wednesday, July 9.
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Karan Singh Rathod is a dedicated sports journalist known for his sharp attention to detail and flair for storytelling. With over a year of experience in writing and editorial work, he blends thorough research with compelling narratives to deliver engaging sports content. A passionate follower of football and cricket, he starts his mornings with a newspaper to stay updated with sports, fashion, and current affairs. Outside of journalism, Karan enjoys traveling and discovering new destinations.
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