Credila Financial Services' Ambitious Rs 5,000 Crore IPO Kickoff

Credila Financial Services has filed for a Rs 5,000 crore IPO comprising a Rs 3,000 crore fresh equity issue and Rs 2,000 crore in offers for sale. This offering follows regulator SEBI's approval of its confidential filings. Credila aims to enhance its capital base to support growth.

Credila Financial Services is set to make a splash in the capital markets, filing to raise Rs 5,000 crore through an initial public offering (IPO). The move, which includes a fresh equity issue worth Rs 3,000 crore and an offer for sale of shares amounting to Rs 2,000 crore, marks a significant step following the approval of its confidential filing by the Securities and Exchange Board of India (SEBI).

The company, India's largest education-focused non-banking financial company, intends to use the proceeds to bolster its capital base, preparing for business expansion and asset growth. The IPO is planned to follow a pre-IPO round where Credila aims to raise Rs 600 crore, potentially adjusting the fresh equity issue size.

Backed by EQT and ChrysCapital with a significant stake, the company saw a redistribution of ownership after HDFC Bank reduced its share as per RBI's directive. Credila's shares are to be listed on BSE and NSE, with a consortium of banks and financial services firms managing the issue.

(With inputs from agencies.)