HDFC Limited, HDFC Bank Limited and HDFC Credila Financial Services Limited (“HDFC Credila”), announced they have entered into definitive agreements to sell a majority stake in HDFC Credila to an investor consortium of BPEA EQT and ChrysCapital (“Consortium”).
HDFC Credila is the one of the largest non‐bank lenders in the Indian education financing market. The Consortium valued HDFC Credila at a Pre‐Money Valuation of INR 10,350 crores and will infuse primary proceeds of c. INR 2,000 crores into the company. HDFC Limited will continue to remain invested with a stake of 9.99% in HDFC Credila.
Jefferies acted as the exclusive financial advisor to HDFC Limited and HDFC Credila on the transaction. The transaction represents the largest ever private equity buyout in the Indian financial services sector.
The transaction was run on a very tight timeline with the entire process up to signing being completed in just 54 days.
Established in 2006 and headquartered in Mumbai, HDFC Credila is one of India’s premier non‐bank lenders in the education finance space. The NBFC provides education loans to students pursuing higher education in India and overseas. The Company has extended loans to over 1.24 lakh customers since inception with the current loan book at over INR 15,000 crore. The Company reported revenues of INR 1352.18 crore during FY2022-23 and a net worth of Rs 2435.09 crore.
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