On December 26, the shareholders of the education loan company organized a meeting, in which they decided to agree on two decisions such as raising funds through an initial public offering and making changes in the Employees Stock Option Plan – 2022.
Recently, Credila Financial Services submitted its DRHP with the BSE, NSE, and SEBI (Securities and Exchange Board of India) in order to raise funds through an IPO with a face value of ₹10 each. Even though the company submitted its DRHP to SEBI, the company’s decision to proceed with the plan of launching an IPO is not yet confirmed.
According to the sources, Credila Financial Services has chosen five investment banks as their advisors for launching an IPO worth more than ₹5000 crores in 2025. The chosen banks are Jefferies, Citi, Axis Capital, IIFL Capital, and BofA Securities.
In June of the previous year, Credila Financial Services was bought by some investors such as a consortium of Swedish investment giant EQT and home-grown private equity firm ChrysCapital from the HDFC Group.
In the previous year, Credila had paid ₹7,992 crore for an education loan. As for the year FY2024, the company decided to increase the amount to ₹14,089 crore. In FY23, the company provided loans to 33,036 students while in FY24, it provided loans to 53,603 students which has grown by 76% more compared to last year.
In Fiscal Year 2024, Credila’s loan book increased by 84% to ₹28,187 crore. The interest rate on loans has grown by 95% to ₹2535 crore compared to the previous year.
In FY2024, the Net profit of the company increased by 92% to ₹528.84 crore, The Net interest income grew by 79%. As of September 2024, the Net profit increased by 65.7% to ₹226.5 crore from ₹136.7 crore. While the total income increased by 79.6% to ₹1,166.6 crore within the same duration.
