Subscription
Last updated on 04-Jul-2025 18:49:03
| Category | Offered | Applied | Times |
|---|---|---|---|
| QIBs | 7020407 | 991749956 | 141.27 |
| HNIs | 5265306 | 421626754 | 80.08 |
| HNIs 10+ | 3510204 | 326266491 | 92.95 |
| HNIs 2+ | 1755102 | 95360263 | 54.33 |
| Retail | 12285714 | 132303754 | 10.77 |
| Total | 24571427 | 1545680464 | 62.91 |
Application-Wise Breakup (Approx. no. of Apps) | |||
|---|---|---|---|
| Category | Reserved | Applied | Times |
| HNIs (10L+) | 4110 | 78586 | 19.12 |
| HNIs (2-10L) | 2055 | 108281 | 52.69 |
| Retail | 201405 | 1748411 | 8.68 |
| Subscription Demand (in ₹ crore) | |||
|---|---|---|---|
| Category | Offered | Demand | Times |
| QIBs | 172 | 24297.87 | 141.27 |
| FIIs | - | 5793.19 | - |
| DIIs | - | 11003.44 | - |
| Mutual funds | - | 170.14 | - |
| Others | - | 7331.1 | - |
| HNIs | 129 | 10329.86 | 80.08 |
| HNIs 10+ | 86 | 7993.53 | 92.95 |
| HNIs 2+ | 43 | 2336.33 | 54.33 |
| Retail | 301 | 3241.44 | 10.77 |
| Total | 602 | 37869.17 | 62.91 |
| QIB Interest Cost per share (7 Days) | |||||
|---|---|---|---|---|---|
| @7% ₹46.5 | @8% ₹53.1 | @9% ₹59.7 | @10% ₹66.4 | @11% ₹73 | @12% ₹79.7 |
About
| Category | Lot(s) | Qty | Amount | Reserved |
|---|---|---|---|---|
| Retail | 1 | 61 | 14945 | 201405 |
| sHNI | 14 | 854 | 209230 | 2055 |
| bHNI | 67 | 4087 | 1001315 | 4110 |
IPO Details
| Total Issue Size | [35102041] shares (aggregating up to 860.00 Cr) |
| Offer For Sale | [35102041] shares (aggregating up to 860.00 Cr) |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Share Holding Pre Issue | 1,74,98,250 shares |
| Share Holding Post Issue | 1,74,98,250 shares |
IPO Reservation
| Investor Category | Shares Offered |
|---|---|
| QIB Shares Offered | Not more than 50% of the Net Offer |
| Retail Shares Offered | Not less than 35% of the Net Offer |
| NII Shares Offered | Not less than 15% of the Net Offer |
Key Performance Indicator
| KPI | Mar-25 | Mar-24 |
|---|---|---|
| ROE | 30.38% | 34.74% |
| ROCE | 40.03% | 54.92% |
| EPS (basic) | 8.74 | 6.74 |
| P/E Pre IPO | 28.03 |
Financial Details In Crores
| Period Ended | Mar-25 | Mar-24 |
|---|---|---|
| Assets | 879.62 | 592.91 |
| Revenue | 884.78 | 763.44 |
| Profit After Tax | 152.93 | 118.9 |
| EBITDA | 212.82 | 72.64 |
| Net Worth | 505.71 | 341.81 |
| Total Borrowing | 0.08 | 0.08 |
About Company
Incorporated: 2011
Business Model: B2B education platform for international student recruitment
Focus Markets: United Kingdom, Canada, Ireland, Australia, New Zealand
Application Volume: Processed over 5.95 lakh student applications
Partner Institutions: Over 135 global higher education institutions
Agent Network (as of Sep 30, 2024)
Registered Agents: 7,900 globally
Active Agents in FY24: 2,532
India: 1,524
International (25+ countries): 1,008 (~40%)
Key countries: UK, Nigeria, Pakistan, Bangladesh, Nepal, Sri Lanka, Cameroon, Ghana, Kenya, Vietnam, Canada, Egypt
Workforce (as of Sep 30, 2024)
Employees: 329
Consultants: 10 (in countries like Cameroon, China, Ghana, Kenya)
Strength
Strong Global Presence & Track Record: Successfully processed over 7 lakh student applications across FY23–FY25 from 75+ countries, partnering with 173+ global institutions in the UK, Ireland, Canada, ANZ, and the USA.
Deep Institutional Relationships: Longstanding ties with top institutions—20+ of the top 30 partners have been associated for over 5 years; also offers value-added services like marketing and admission office management.
Extensive Agent Network: Over 10,362 registered agents and 3,948 active agents across 39+ countries, enabling access to a large and diverse student base for global recruitment.
Weakness
High Client Concentration: Significant reliance on a few global institutions of higher education; loss of any major partner could materially impact revenue and growth.
Agent Dependency: Business operations depend heavily on registered agents; loss or reduced performance of key agents could disrupt application flow and student recruitment.
Relationship-Driven Model: Success hinges on maintaining strong, long-term collaborations with global institutions; failure to sustain these relationships may impact future business prospects.
Lead Manager(s)
Address
Wing A, 3 rd Floor, Constantia Building,
11, Dr. U.N. Brahmachari Street,
Shakespeare Sarani,
Kolkata, West Bengal, 700017
Phone: +91 33 3544 1515
Email: compliance@crizac.com
Website: http://www.crizac.com/
Registrar
MUFG Intime India Private Limited (Link Intime)
Link Intime India Private Ltd
C 101, 247 Park,
L.B.S.Marg Vikhroli (West),
Mumbai - 400083