Crizac's Rs 860 Crore IPO Set to Hit Markets

Crizac is launching a Rs 860-crore IPO on July 2, with an offer for sale by promoters Pinky and Manish Agarwal. Crizac provides international student recruitment solutions and recently reported significant revenue and profit. The shares will be listed on BSE and NSE.

Student recruitment solution provider Crizac announced that its Rs 860-crore initial public offering (IPO) will be available for subscription starting July 2. The public issue will close on July 4, with anchor investors able to bid on July 1, according to the company's recent statement.

The IPO comprises an offer for sale (OFS) of equity shares worth Rs 860 crore by promoters Pinky Agarwal and Manish Agarwal, with no fresh issue component. The OFS includes shares valued at Rs 723 crore from Pinky Agarwal and Rs 137 crore from Manish Agarwal, as noted in the red herring prospectus filed on Wednesday.

Crizac is based in Kolkata and serves as a B2B education platform for agents and global institutions, offering international student recruitment solutions. The company has collaborated with over 173 global institutions and processed applications from more than 75 countries. With shares set to list on BSE and NSE, Equirus Capital and Anand Rathi Advisors are lead managers, and MUFG Intime India is the registrar for the IPO.

(With inputs from agencies.)