Country's leading education loans financier, Credila Financial Services, which is backed by the EQT Group, ChrysCapital, HDFC Bank, and Shinhan Bank, has filed draft papers with the SEBI on June 26, to mobilise Rs 5,000 crore via initial public offering (IPO). It was earlier known as HDFC Credila Financial Services
The IPO will be a mix of fresh issuance of equity shares worth Rs 3,000 crore, and an offer-for-sale (OFS) of Rs 2,000 crore worth shares by existing shareholders.
Promoter Kopvoorn B V, part of BPEA EQT Group, will be selling shares worth up to Rs 950 crore, and other shareholder HDFC Bank Rs 1,050 crore via OFS.
Promoters hold 63.96 percent stake in Credila including Kopvoorn B V's 63.89 percent shareholding. The remainder 36.04 percent shares are owned by the public including ChrysCapital's affiliate Moss Investments (14.48 percent stake), South Korean financial institution Shinhan Bank (10.05 percent), HDFC Bank (8.17 percent), and HDFC Life Insurance Company (1.81 percent).
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The Mumbai-based education finance company may consider fund raising up to Rs 600 crore in pre-IPO round.
In December 2024, Credila Financial Services has filed pre-filed draft papers with the capital markets regulator. Its shareholders, in the extra-ordinary general meeting on December 26 last year, has unanimously passed the special resolution for raising of capital through an initial public offering, and modification in Employees Stock Option Plan - 2022.
Moneycontrol was the first to report in September last year that Credila has shortlisted five investment banks as advisors for its upcoming big-bang initial public offer (IPO) worth more than Rs 5,000 crore in 2025.
In June 2023, HDFC Credila was acquired by a consortium of Swedish investment giant EQT and home-grown private equity firm ChrysCapital from the HDFC Group.
Founded in 2006, Credila that provides education loans to Indian students pursuing higher education in India and overseas, proposes to utilise the fresh issue proceeds for augmenting its capital base to meet future capital requirements arising out of growth of its business and assets.
The merchant bankers handling the Credila Financial Services IPO will be Axis Capital, Citigroup Global Markets India, Goldman Sachs (India) Securities, IIFL Capital Services, and Jefferies India.
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