MUMBAI: Education Loan Providers Credila Financial Services and Advance are ready to debut on the stock markets, and both companies are preparing for their IPOs. Credila plans to raise around Rs 5,000 crore, while Avanse is targeting Rs 3,500 crore. Both IPOs will include a combination of new issues and offers for sale.
Credila, formerly HDFC Credila, has previously confidentially submitted its Draft Red Herring prospectus (DRHP) with Sebi. Avanse has already submitted its draft prospectus. Credila, founded by Ajay and Anil Bohora in 2006, was India’s first dedicated education loan company. Together, Credila and Avanse now manage over Rs 60 billion in outstanding loans, underscoring the growing demand for education financing.
india private educational lending sector was born in the early 2000s to address the rising costs of education. Traditional banks have focused on larger loans but have limited participation due to high doubtful assets. NBFCs have filled the gap with faster approvals and flexible terms. The educational loan market is projected to reach $150 billion by 2025.
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