Crizac Ltd., shares have debuted on the exchanges at a premium of over 14% on Wednesday at Rs 272 per share on the BSE, against the issue price of Rs 245 per share. On the National Stock Exchange, the shares debuted at a premium of 14.7% at Rs 281.05 per share.
The company's initial public offering was subscribed 59.82 times, led by heavy demand from institutional and non-institutional investors.
The proposed IPO was entirely an offer for sale worth up to Rs 860 crore, with no fresh issue component. The face value of each share was Rs 2. The promoters offloading their stake were Pinky Agarwal and Manish Agarwal.
The total traded volume was 1.6 crore shares with a value of Rs 450 crore, as per NSE data. The market cap is close to Rs 5,000 crore.
Business
Crizac offers international student recruitment solutions to global institutions of higher education in the UK, Canada, New Zealand, Australia and the Republic of Ireland.
The firm, incorporated in 2011, has partnered with various leading universities in the UK and holds a market share of 13% based on the number of Indian students pursuing higher education in the UK in 2023, the draft papers said, quoting an F&S report.
The Kolkata-based firm has processed over 5.95 lakh student applications and collaborated with over 135 global universities. The company, as of September 2024, had over 7,900 registered agents in various countries, including the UK, Nepal, Bangladesh and Egypt, among others.
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