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

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.)