Credila Financial Services Ltd is slowing down its plans for an initial public offering in Mumbai as the company seeks to update its latest financials after new US rules on visas came into effect, according to people familiar with the matter.
Credila, backed by private equity firm EQT AB and one of India’s biggest education loan providers, has pushed back the share sale to sometime before the end of 2025, the people said, asking not to be identified because the information isn’t public.
Credila filed publicly for the IPO in June with the aim of launching this month and raising as much as ₹5,000 crore ($560 million) through a fresh issue of shares and sales by existing investors, including EQT and HDFC Bank Ltd. The company provides education loans for students going to the US as well as Canada, the UK, India and other countries.
Deliberations are ongoing and no final decisions have been made on the IPO timing and other details, the people said.
A representative for EQT declined to comment, while Credila and HDFC didn’t respond to requests seeking comment.
President Donald Trump’s tightening of immigration policies has led to a sharp drop in student arrivals to the US, with numbers from India plunging 46 per cent in July from a year earlier, according to data from the International Trade Administration.
Another Indian education loan provider, Avanse Financial Services Ltd, is also considering delaying a ₹3,500 crore IPO due to the impact of US visa rules, Bloomberg News reported in August.
Still, a record $5 billion is expected to be raised from Indian IPOs in October. The rush has been powered by corporates seeking funds to expand operations. Demand has been fuelled by domestic capital, including millions of retail investors encouraged by a nine-year rally in the nation’s benchmark stock index.
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