Crizac IPO: Key Details, GMP, Financials & Review

Crizac Limited is all set to debut on the Indian stock market through a book-building IPO scheduled to open on 2nd July 2025. The Crizac IPO is entirely an offer for sale (OFS), with 3.51 crore equity shares being offered by existing shareholders, aggregating to ₹860.00 crore. The IPO will be listed on both the NSE and BSE with a tentative listing date of 9th July 2025.

With a price band set between ₹233 and ₹245 per share, the Crizac IPO presents itself as a mid-sized offering in the tech-enabled services space. However, despite solid financials and steady growth, the GMP (Grey Market Premium) stands at ₹0 as of 2nd July 2025, indicating muted market excitement pre-listing.

This article provides a comprehensive look at the Crizac IPO including issue details, GMP analysis, financial performance, technical indicators, valuation metrics, and expert opinions to help investors decide whether to apply.

Crizac IPO Overview

The company will not receive any proceeds from the IPO since it is a pure offer for sale. The funds raised will go to the selling shareholders.

Grey Market Premium (GMP) Update

As of the latest available data, Crizac IPO GMP is ₹0, which suggests that the IPO is not commanding any premium in the grey market. This could be due to the fully priced valuation or broader market sentiment.

GMP is an unofficial indicator and is known to fluctuate rapidly based on investor interest and market trends. Investors should rely more on fundamental analysis than just GMP before applying.

Company Background: Crizac Limited

Crizac Limited is a technology-led enterprise focused on providing integrated solutions in digital commerce, B2B platform services, and process automation. The company offers a suite of software and data-driven services to clients across industries including manufacturing, logistics, retail, and education.

Business Model Highlights

• Multi-platform SaaS offerings

• Data-driven B2B transaction ecosystem

• Strategic partnerships with retailers and e-commerce platforms

• Growing presence in international markets

With operations scaling across India and a digital-first approach, Crizac is well-positioned in an increasingly digital economy.

Crizac Financial Performance

Key Financials (₹ in Crore)

Crizac’s revenue increased by 15.89% YoY, though its PAT declined by 22.22%, reflecting increased costs or one-time expenses.

While the top line remains strong, the dip in profits suggests that the company may be reinvesting heavily or facing margin pressure.

Key Financial Ratios

Despite a slightly higher PE ratio, Crizac offers excellent ROCE and RoNW, signaling solid internal efficiency and capital utilization.

Post-Issue Metrics

Since it is an offer for sale, there is no change in EPS or PE Ratio post-issue.

Peer Comparison

Compared to IndiaMART, Crizac’s PE is slightly higher, but its RoNW is stronger. Crizac’s EPS is modest but adequate for its price band. IEC, a much smaller player, is not a direct peer.

Lot Size and Minimum Investment

Retail investors can apply for up to 13 lots under the retail category (₹1.94 lakh approx), while HNIs must apply beyond that.

IPO Objectives

Crizac Limited will not receive any proceeds from this IPO, as the entire issue is an offer for sale by existing shareholders. The objectives are:

• Provide liquidity to shareholders

• Facilitate listing on the NSE and BSE

• Increase visibility and brand recognition

No capital will be used for expansion, debt repayment, or working capital.

IPO Registrar Details

Registrar:
MUFG Intime India Pvt. Ltd.
Email: ipo.helpdesk@linkintime.co.in
Phone: +91-22-4918 6060

Investors can reach out to the registrar for queries related to allotment, refund, and listing.

How to Apply for Crizac IPO

1. Research the IPO fundamentals and market sentiment

2. Log in to your broker account (Zerodha, Groww, Upstox, etc.)

3. Navigate to the IPO section and select Crizac IPO

4. Enter your bid and approve the UPI mandate

5. Track your allotment status via NSE or registrar’s portal

Multiple applications from different demat accounts can increase allotment chances (within SEBI norms).

How to Check Crizac IPO Allotment Status

You can check your allotment via:

NSE Website

• Visit nseindia.com

• Go to IPO Allotment Status

• Enter PAN or application number

Registrar Portal

• Visit linkintime.co.in

• Click “IPO Allotment”

• Choose Crizac IPO

• Enter PAN/application number and submit

Allotment will be finalized on 7th July 2025, and refunds will be initiated by 8th July 2025.

Expert Review: Should You Apply?

Most analysts maintain a neutral to slightly positive outlook on the Crizac IPO.

“The company’s revenue has grown steadily, and it has healthy return metrics. However, profit decline and a zero GMP signal investor caution. The IPO seems fairly priced. Investors may consider applying for medium to long-term gains but should not expect immediate listing pop.”
– Anonymous Market Analyst

Pros

• Strong revenue and return ratios

• Trusted registrar and listing on NSE & BSE

• Low entry price for retail (₹14,945)

Cons

• Zero GMP may reflect low demand

• Entirely OFS, no new capital raised

• Decline in PAT in FY25

Final Thoughts

The Crizac IPO provides a window into a digitally evolving enterprise with solid fundamentals. Despite no premium in the grey market, the company’s strong ROCE, high RoNW, and growing revenue base make it a promising candidate for long-term investors.

That said, short-term listing gains may be minimal, given the lack of grey market interest. Investors with a longer horizon and an eye for quality companies in tech services and digital commerce should consider applying.

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