Kolkata: City-based student recruitment solution provider, Crizac Limited has filed its draft red herring prospectus (DRHP) with the market regulator, Securities and Exchange Board of India (SEBI), to raise funds through an initial public offering (IPO).
Crizac offers international student recruitment solutions to global institutions of higher education in the United Kingdom, Canada, the Republic of Ireland, Australia, and New Zealand (ANZ).
The IPO, with a face value of Rs 2 per equity share, is entirely an offer for sale of up to Rs 1,000 crore by the promoter selling shareholders.
The offer for sale consists of the sale of equity shares of up to Rs 841 crore by Pinky Agarwal and up to Rs 159 crore by Manish Agarwal. The offer includes a reservation for subscription by eligible employees.
The offer is being made through the book-building process, wherein not more than 50% of the net offer shall be available for allocation on a proportionate basis to qualified institutional buyers, not less than 15% of the net offer shall be available for allocation to non-institutional investors, and not less than 35% of the net offer shall be available for allocation to retail individual investors.
Equirus Capital Private Limited and Anand Rathi Advisors Limited are the book-running lead managers, and Link Intime India Private Limited is the registrar of the issue.
