Crizac Limited IPO is expected to be released soon. The company files DRHP (Draft Red Herring Prospectus) papers below. They are looking for funds to invest in their different upcoming purposes and needs. We will discuss Crizac Limited’s IPO below. The company started as a global recruitment platform for students in 2017. It expands its reach widely over the countries starting from a single country. Crizac follows the logo of Go Global with Crizac. It helped several students that we share below.
Crizac Limited is a company that provides recruitment services to students. It helped them get recruitment in their dream country like the UK, the US, and Australia. The company has its headquarters in Kolkata, India. Till now, the company reached 3.82 Lakh student applications. They are connected with 140 universities making them a big player in the industry. They are a name of trust for the students. If you read their DRHP papers, they mention that they are sending 13% of the total students to the United Kingdom from India. Thus, it is a big number for a single player.
Crizac Limited will provide its shares to the different categories. These will be divided into Qualified Institutional Buyers, non-institutional investors, and retail. The percentage of the net offer distributed is as follows:
- Qualified Institutional Buyer: 50%
- Non-Institutional Buyers: 15%
- Retail: 35%
Apart from that, some eligible employees will also be able to join. The company is already playing on a massive scale. There will be only offer-for-sale. Thus, no fresh shares will be there for issue during the IPO. The equity share has a face value of Rs. 2 per share. The promoters are Pinky Agarwal and Manish Agarwal. The share will have a face value of Rs. 2 per equity share with a training amount of Rs. 1000 crore. The company successfully files the DRHP papers.
After the SEBI approves the DRHP papers, the company will be able to open the IPO on any selected date within one year. Thus, the investors are eagerly scrolling through the company’s previous performance as well. Crizac is among the top players in the industry. The IPO will help the promoters monetize the shares. Both the promoters are contributing some amount of shares. Pinky Agarwal will sell shares worth Rs. 159 crore. Apart from that, Manish Agarwal will be selling shares worth Rs. 841 crore. Crizac is high on its mission to help students land their dream jobs.