Credila Financial Services Ltd, formerly known as HDFC Credila Financial Services Ltd, has submitted its initial public offering (IPO) papers to the Securities and Exchange Board of India (Sebi) through the confidential pre-filing route.

The confidential pre-filing allows the company to maintain discretion regarding the details disclosed in the draft red herring prospectus (DRHP) before making it public.

In a statement on Friday, Credila announced that it had filed the pre-draft red herring prospectus with Sebi and stock exchanges concerning its proposed IPO of equity shares on the main board.

This move marks a significant step for the education loan-focused lender as it seeks to expand its footprint in the financial markets.