Crizac Limited, established in 2011, is a B2B education platform that facilitates international student recruitment for higher education institutions in countries like the UK, Canada, Ireland, Australia, and New Zealand. Through its proprietary technology platform, the company sources student applications from over 75 countries via a global network of agents. As of September 2024, Crizac had around 7,900 registered agents, with 2,532 classified as active in Fiscal 2024—1,524 in India and the remaining 40% spread across 25+ countries including the UK, Nigeria, Pakistan, and Canada.

For the year/period ended (Rs. in Cr.)

For year/ period ended ( in Cr.)

• It is a large global agent networkspanning ~7,900 registered agents in 75+ countries, with 2,532 active agents in India and 25 overseas markets (UK, Nigeria, Pakistan, Canada, etc.)
• It has processed nearly 5.95 lakh student applications over fiscals 2022–2024.

It has an expert team with 329 employees and 10 consultants located in Cameroon, China, Ghana, and Kenya, lending in-market insights and outreach

• Achieve the benefits of listing the Equity Shares on the Stock Exchanges
• Carry out the Offer for Sale of upto Equity Shares aggregating up to INR 860

Crores by the Selling Shareholders.

Crizac Limited has unique asset light model with almost no peer as it deals with B2B higher education platform that recruits Indian students in foreign institutions. At the upper Price band of INR 245, the company is expected to list at P/BV of 8.51 and P/E of 28.03. Considering its valuation and business, we recommend to “Subscribe” this IPO for long term gains.