In today’s briefing:
- CRIZAC IN: Upcoming IPO – Niche B2B Educational Platform: Should You Subscribe?
CRIZAC IN: Upcoming IPO – Niche B2B Educational Platform: Should You Subscribe?
- Crizac is a play on growth of overseas education. Its network of agents help candidates file University applications, which are then processed by Crizac before passing it to the universities
- Universities are increasingly outsourcing application and assessment processes to tap inbound students from emerging markets like India/China. 7mn people study abroad today, off which 3+mn are from India and China.
- IPO is priced attractively at TTM PE of 28x. We estimate FY27 EPS of 11-13 and potential multiple of 30x implying an upside of 35-60% from IPO price of 245
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