Credila Eyes Public Offer Amid Ownership Shift

Credila Financial Services Ltd has filed for an IPO using a confidential pre-filing route, following a major ownership change. EQT and ChrysCapital acquired a controlling stake, and the company has experienced significant growth, with total income increasing and profits nearly doubling in the last fiscal year.

In a strategic move, Credila Financial Services Ltd has filed papers for an initial public offering (IPO) with market regulator Sebi, leveraging a confidential pre-filing route to keep details under wraps. This comes in the wake of a major ownership overhaul during the fiscal year ending March 31, 2024.

A private equity consortium comprising EQT and ChrysCapital now holds a 90.01 per cent stake in the company, following their substantial investment of Rs 9,060 crore. This transaction notably included a fresh equity infusion of Rs 2,003.61 crore, reshaping Credila's shareholder landscape after RBI's directive for HDFC Bank to trim its holding.

Credila reports robust financial growth, with total income surging to Rs 2,771.04 crore and post-tax profits nearly doubling to Rs 528.84 crore, underscoring its strength in supporting over 1.24 lakh students with education loans since its inception.