Credila Financial Services files draft papers for Rs 5,000 crore IPO with Sebi
Credila Financial Services
, an
education finance
company, has filed a UDRHP-I with SEBI to raise Rs 5,000 crore through an IPO.
The company specializes in education loans for students pursuing higher studies in India and abroad.
The total issue size aggregating up to Rs 5,000 crore comprises a fresh issue of equity shares aggregating up to Rs 3,000 crore and an offer for sale of equity shares aggregating up to Rs 2,000 crore of face value of Rs 10 per equity share.
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The offer for sale of equity shares aggregating up to Rs 2,000 crore (face value of Rs 10 each) comprises up to Rs 950 crore by Kopvoorn B.V. ('Promoter Selling Shareholder') and up to Rs 1,050 crore by
HDFC Bank
Limited ('Other Selling Shareholder').
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A
pre-IPO placement
of the specified securities may be undertaken by the company, in consultation with the BRLMs, prior to the filing of the Red Herring Prospectus with the ROC for an aggregate amount not exceeding Rs 600 crore ('Pre-IPO Placement').
The Pre-IPO Placement, if undertaken, will be at a price to be decided by the company in consultation with the BRLMs. If the Pre-IPO Placement is undertaken, the amount raised from the Pre-IPO Placement will be reduced from the fresh issue, subject to the offer complying with rule 19(2)(B) of the Securities Contracts (Regulation) rules, 1957, as amended ('SCRR'). The Pre-IPO Placement, if undertaken, shall not exceed 20% of the fresh issue.
Axis Capital Limited
, Citigroup Global Markets India Private Limited, Goldman Sachs (India) Securities Private Limited,
IIFL Capital Services Limited
(
formerly known as IIFL Securities Limited
) and Jefferies India Private Limited are the Book Running Lead Managers to the issue.
The Company proposes to utilise the net proceeds towards augmenting the capital base to meet the Company's future capital requirements arising out of the growth of its business and assets.
Credila Financial Services Limited is the second fastest growing education-focused NBFC in India in terms of year-on-year growth of Net Loans, with a year-on-year growth of 47.67% between the Financial Years 2024 and 2025.
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The company is the largest education-focused non-banking financial company in India (which peer set comprises three companies, including Credila), with Net Loans of Rs 41,469 crore as of March 31, 2025; restated net profit after tax of Rs 990 crore for the Financial Year 2025; and the highest disbursements of Rs 14,089 crore for the Financial Year 2024 (assessment performed for Financial Year 2024 given unavailability of peer data for Financial Year 2025).
The company is the fastest growing education-focused NBFC in India (comprising three companies, including including Credila) with a CAGR of 64.96% in Net Loans between the Financial Years 2023 and 2025 and a year-on-year growth of 84.26% in assets under management between March 31, 2023 and March 31, 2024 (assessment performed for Financial Year 2024 given unavailability of peer data for Financial Year 2025).
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