About
Operating since 2011, Crizac Limited functions as a B2B education platform providing international student recruitment solutions to global institutions of higher education in the United Kingdom, Canada, Republic of Ireland, Australia, and New Zealand. With co-primary operations in India and London, the company has established particular strength in student recruitment from India to the United Kingdom through strong institutional relationships.
Crizac Limited operates through a proprietary technology platform supporting over 10,362 registered agents globally, with 3,948 active agents across over 39 countries. During fiscal 2025, the platform processed over 7.11 lakh student applications while collaborating with over 173 global institutions of higher education including University of Birmingham, University of Surrey, Nottingham Trent University, and Coventry University.
With a team of 368 employees spanning multiple countries, the company has achieved significant growth with a CAGR of 100.18% in revenue from operations between fiscal 2015 and 2025. The platform enables students and parents to access world-class educational institutions while helping universities develop bespoke recruitment strategies.
IPO schedule
| Issue open date | 2025-07-02 |
|---|---|
| Issue close date | 2025-07-04 |
| UPI mandate deadline | 2025-07-04 (5 PM) |
| Allotment finalization | 2025-07-07 |
| Refund initiation | 2025-07-08 |
| Share credit | 2025-07-08 |
| Listing date | 2025-07-09 |
| Mandate end date | 2025-07-19 |
| Lock-in end date for anchor investors (50%) | 2025-08-06 |
| Lock-in end date for anchor investors (remaining) | 2025-10-05 |
Financials
| Financial Year Ended | March 2023 | March 2024 | March 2025 |
|---|---|---|---|
| Total Assets | 304.99 | 592.91 | 879.62 |
| Revenue | 517.85 | 763.44 | 884.78 |
| Profit After Tax | 112.14 | 118.90 | 152.93 |
| Net Worth | 221.37 | 341.81 | 505.71 |
Issue size
| Funds Raised in the IPO | Amount |
|---|---|
| Overall | ₹860 crores |
| Offer for Sale | ₹860 crores |
Strengths
- The company is a key B2B player in international student recruitment, especially India–UK.
- Strong, long-term partnerships with 170+ global institutions, driving over 70% of revenue.
- Extensive agent network with 3,900+ active agents in 39+ countries drives diverse student sourcing.
- Scalable tech platform streamlines student applications and agent coordination.
- Experienced promoters with deep domain expertise, supported by a skilled team and global advisory board.
Risks
- High dependence on few institutions; loss of any may severely impact revenue.
- Dependence on non-exclusive agents may impact business if they shift or disengage.
- Loss or non-renewal of key institutional tie-ups may impact revenue and growth.
- High geographic revenue concentration in the UK (95%+) poses risk from regional disruptions or policy changes.
- Proforma financials are illustrative and may not reflect actual or future performance.
- Visa or travel rule changes in key markets may hurt student flow and impact revenue.
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