 "IPO")
Avanse Financial Services is the second largest education-focused NBFC in India by assets under management (AUM) as of March 31, 2024, according to a Crisil report.
Avanse Financial Services Ltd, an education- focused non banking financial company, has filed preliminary papers with Sebi to raise Rs 3,500 crore through an initial public offering (IPO).
The company, promoted by Olive Vine Investment Ltd, an affiliate of private equity major Warburg Pincus, proposes to use the funds to increase its capital base for future needs.
The initial share-sale comprises a fresh issue of equity shares of up to Rs 1,000 crore and an offer for sale (OFS) of up to Rs 2,500 crore by the selling shareholders, according to the draft red herring prospectus (DRHP) filed on Thursday.
Avanse Financial Services is the second largest education-focused NBFC in India by assets under management (AUM) as of March 31, 2024, according to a Crisil report.
The company offers a full stack education offering with products ranging from education loans for students to growth capital for education institutions through education infrastructure loans.
Through student loans, the company provides loans and other value-added services to Indian students and professionals who are admitted to study overseas or in domestic institutions. Also, it provides collateral-backed financing to private educational institutions in India.
Kotak Mahindra Capital Company Ltd, Avendus Capital, J.P Morgan India, Nomura Financial Advisory and Securities (India), Nuvama Wealth Management and SBI Capital Markets are the book running lead managers to the issue.
First Published: Jun 21 2024 | 3:25 PM IST
