Crizac shares gain 6% after Sunil Singhania's Abakkus buys stake worth over ₹100 crore

Shares of the recently-listed Crizac Ltd. gained over 6% on Thursday, July 10, as Sunil Singhania's Abakkus Asset Manager Pvt Ltd. bought stake in the company on the day of its listing.

According to data available on the exchanges, Abakkus Asset Managers bought 36.73 lakh shares at ₹298.33 apiece. This takes the total transaction value to ₹109.5 crore.

The B2B education platform on Wednesday, July 9,

listed at ₹281.05 on NSE, a premium of 14.71% over the issue price of ₹245 per share, and at a 14% premium at ₹280 on BSE. It built on those gains to end its trading debut nearly 25% higher.

The issue was subscribed 59.81 times between July 2 and 4, with major support from qualified institutional buyers who bought 134.35 times the allotted quota. Non-institutional investors, and retail investors picked 76.15 times and 10.21 times the portions set aside for them.

Crizac raised ₹860 crore via its IPO, which was entirely an offer for sale by promoters Pinky Agarwal and Manish Agarwal. This means that the company will not receive any proceeds from the IPO.

At present, the promoters hold a 80.48% stake in the company.

Last week, the company's management told CNBC-TV18 that they have plans to add other services such as student loans, housing, among others. They said there is negligible investment required to add new services to the platform.

They are looking to add other geographies such as USA, Ireland and Dubai.

For the fiscal ended on March 31, 2025, Crizac posted a net profit of ₹153 crore with a revenue of ₹885 crore. It reported a net profit of ₹118.90 crore with a revenue of ₹763 crore in FY24.

Crizac shares gained 6.2% to hit an intraday high of ₹326.9 apiece on Thursday, July 10. The stock was up 5.12% at ₹323.38 apiece at 9.50 am.

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