The public issue will conclude on July 4, and the bidding for anchor investors will open for a day on July 1, the company said in a statement.
However, the company did not disclose the details of the price band.
The IPO is entirely an offer for sale (OFS) of equity shares worth Rs 860 crore by promoters Pinky Agarwal and Manish Agarwal with no fresh issue component, according to the red herring prospectus (RHP) filed on Wednesday.
The OFS consists of the sale of equity shares worth Rs 723 crore by Pinky Agarwal and Rs 137 crore by Manish. Since the issue is an OFS, Crizac will not receive any proceeds from the IPO.
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The company, which had proposed to raise Rs 1,000 crore in November last year, has now trimmed the issue size to Rs 860 crore. It did not provide any specific reason for the downward revision in offer size. Crizac initially filed its preliminary IPO papers with Sebi in March 2024. The regulator had returned the documents in July. Thereafter, the company refiled the papers in November, which were approved by the regulator in March this year. The Kolkata-based firm is a B2B education platform for agents and global institutions, which offers international student recruitment solutions to global institutions of higher education in the UK, Ireland, Canada, Australia and New Zealand.
Over the last three years, Crizac facilitated enrolment applications from over 75 countries through its registered agents on its technology platform. It processed more than 7.11 lakh student applications and collaborated with over 173 global institutions of higher education.
The company reported a revenue from operations of Rs 849.49 crore and a profit after tax of Rs 152.93 crore in the full financial year 2025.
The company’s shares will be listed on the BSE and NSE.
Equirus Capital and Anand Rathi Advisors are the book-running lead managers, while MUFG Intime India is the registrar for the IPO.
