Credila Financial Services on Thursday filed for an initial public offering worth Rs 5,000 crore ($583.76 million), a draft prospectus showed.
The company’s IPO consists of a fresh issue of shares worth Rs 3,000 crore, while existing shareholders HDFC Bank and Kopvoorn BV will sell shares worth Rs 2,000 crore.
Proceeds from the offering will be used to boost the firm’s capital base.
The offering comes as foreign investors return to Indian stocks after a major exodus, attracted by big-ticket block trades, which often precede a recovery in IPOs.
Six IPOs are open for bids this week, including HDB Financial’s $1.5 billion offering, the biggest ever by an Indian non-bank lender.
Citi, Goldman Sachs’ India unit, Jefferies, IIFL Capital and Axis Capital are bookrunners for the Credila offering.
Founded in 2006, Credila is a non-banking financial company which offers education loans.
Reuters
