Mumbai-based Avanse Financial Services, backed by Warburg Pincus, Kedaara Capital, and IFC, has submitted draft papers to SEBI for raising ₹3,500 crore through an initial public offering (IPO). This move could mark the first-ever listing of an education-focused non-banking financial company (NBFC) in India.
IPO Details
According to the draft red herring prospectus (DRHP), the net proceeds from the IPO will be utilized to enhance Avanse’s capital base, supporting future capital needs due to business and asset growth.
Investment Banks Involved
Background and Financials
Warburg Pincus acquired an 80% stake in Avanse Financial Services from the Wadhavan Global Capital group in March 2019. IFC has been involved since 2013, and Kedaara Capital invested ₹800 crore in January 2023.
Avanse offers loans across three segments: student loans, loans for professionals, and institutional loans. As of March 31, 2024, it is the second-largest education-focused NBFC in India by assets under management (AUM). The company also had the second-highest disbursements and profit after tax in FY2024 among its peers.
Financial Growth
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