We studied the initial nature and relaxation of photoexcited electronic states in CdSe nanoplatelets (NPLs). Ultrafast transient optical absorption (TA) measurements were combined with the theoretical analysis of the formation and decay of excitons, biexcitons, free charge carriers, and trions. In the latter, photons and excitons were treated as bosons and free charge carriers as fermions. The initial quantum yields of heavy-hole (HH) excitons, light-hole (LH) excitons, and charge carriers vary strongly with photon energy, while thermal relaxation occurs always within 1 ps. After that, the population of LH excitons is negligible due to relaxation to HH excitons or decay into free electrons and holes. Up to the highest average number of about four absorbed photons per NPL in our experiments, we found no signatures of the presence of biexcitons or larger complexes. Biexcitons were only observed due to the interaction of a probe-generated exciton with an exciton produced previously by the pump pulse. For higher pump photon energies, the initial presence of more free charge carriers leads to formation of trions by probe photons. On increasing the number of absorbed pump photons in an NPL, the yield of excitons becomes higher as compared to free charge carriers, since electron-hole recombination becomes more likely. In addition to a TA absorption feature at energy below the HH exciton peak, we also observed a TA signal at the high-energy side of this peak, which we attribute to formation of LH-HH biexcitons or trions consisting of a charge and LH exciton.