New Delhi: SEBI has been returned Draft document student's Recruitment Solution Provider Krizaq Ltd, which was looking to launch an initial public offering (IPO) of Rs 1,000 crore.IPO), an update with the market regulator on Monday revealed. The move could delay the sale of the Kolkata-based company initial share sale,
The proposed IPO is entirely a offer for sale The issue (OFS) was made by promoters Pinky Agarwal and Manish Agarwal, with no fresh issue component.
According to the offer document, the OFS comprises sale of equity shares aggregating up to Rs 841 crore by Pinky Agarwal and up to Rs 159 crore by Manish Agarwal.
The company had filed its draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) in April.
The market regulator returned the company's offer document on July 15 without assigning any reasons, according to information posted on Sebi's website on Monday.
I'm nervous Provides international student recruitment solutions to global institutions of higher education in the United Kingdom, Canada, Republic of Ireland, Australia and New Zealand.
It has established partnerships with leading universities in the UK and is a major player in the recruitment of students from India to the UK, having a significant market share of around 13 per cent based on the number of Indian students pursuing higher education in the UK in 2023, the F&S report said in draft documents.
Over the past three years, Crizaq has facilitated enrollment applications from over 72 countries through agents registered on its technology platform. It has processed over 3.82 lakh student applications and collaborated with over 140 global universities.
KriZac's consolidated revenue from operations during FY23 grew by 79.5 per cent to Rs 472.97 crore from Rs 263.53 crore in the previous year. Further, profit after tax for FY23 grew by 65.50 per cent to Rs 112.14 crore from Rs 67.76 crore in the previous fiscal.
Equirus Capital and Anand Rathi Advisors are the book-running lead managers to the issue.
The proposed IPO is entirely a offer for sale The issue (OFS) was made by promoters Pinky Agarwal and Manish Agarwal, with no fresh issue component.
According to the offer document, the OFS comprises sale of equity shares aggregating up to Rs 841 crore by Pinky Agarwal and up to Rs 159 crore by Manish Agarwal.
The company had filed its draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) in April.
The market regulator returned the company's offer document on July 15 without assigning any reasons, according to information posted on Sebi's website on Monday.
I'm nervous Provides international student recruitment solutions to global institutions of higher education in the United Kingdom, Canada, Republic of Ireland, Australia and New Zealand.
It has established partnerships with leading universities in the UK and is a major player in the recruitment of students from India to the UK, having a significant market share of around 13 per cent based on the number of Indian students pursuing higher education in the UK in 2023, the F&S report said in draft documents.
Over the past three years, Crizaq has facilitated enrollment applications from over 72 countries through agents registered on its technology platform. It has processed over 3.82 lakh student applications and collaborated with over 140 global universities.
KriZac's consolidated revenue from operations during FY23 grew by 79.5 per cent to Rs 472.97 crore from Rs 263.53 crore in the previous year. Further, profit after tax for FY23 grew by 65.50 per cent to Rs 112.14 crore from Rs 67.76 crore in the previous fiscal.
Equirus Capital and Anand Rathi Advisors are the book-running lead managers to the issue.