Crizac IPO Secures ₹258 Crore from Anchor Investors Ahead of Public Launch

Crizac IPO Secures ₹258 Crore from Anchor Investors Ahead of Public Launch





Crizac Limited, a Kolkata-based education platform, has successfully completed its anchor round, raising ₹258 crore from key institutional investors ahead of its Initial Public Offering (IPO). The strong participation from major funds signals growing investor confidence in India’s ed-tech growth story.

Anchor Round Highlights

As per the BSE filing on 1st July 2025, Crizac allocated 1,05,30,612 equity shares to anchor investors at ₹245 per share (face value: ₹2 each). Top institutional participants include:

  • Shamyak Investment Pvt. Ltd. (13.95%)
  • Aryabhata India Fund (10.85%)
  • ICICI Prudential MF (8.14%)
  • Allianz Global Investors Fund (8.14%)

Other major investors like Societe Generale, Axis Max Life Insurance, Bandhan MF, and Motilal Oswal MF also joined the round. Notably, three domestic mutual funds applied through five different schemes, underscoring the IPO's broad appeal.

Grey Market Premium (GMP) Trends

Crizac IPO’s GMP rose to ₹12 per share following the anchor round announcement, indicating a listing premium of 4.9% over the upper price band of ₹245. The expected listing price is around ₹257 per share, based on data from InvestorGain.

IPO Details: What You Need to Know

  • Issue Type: 100% Offer for Sale (OFS)
  • Total Offer Size: ₹860 crore
  • Price Band: ₹233 to ₹245 per share
  • Lot Size: 61 shares per lot
  • Promoters Selling Shares: Pinky Agarwal and Manish Agarwal
  • Company Proceeds: Crizac will not receive any proceeds (since it’s a pure OFS)

Allocation Structure

  • QIB (Qualified Institutional Buyers): Up to 50%
  • NII (Non-Institutional Investors): Minimum 15%
  • Retail Investors: Minimum 35%

Key Players Behind the IPO

  • Book Running Lead Manager: Equirus Capital Pvt. Ltd.
  • Registrar: MUFG Intime India Pvt. Ltd. (formerly Link Intime)

What This Means for Investors

This IPO represents a value discovery opportunity in the booming Indian ed-tech space. While Crizac won't retain IPO proceeds, the restructuring and anchor interest suggest strong institutional support and confidence in long-term performance.

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