Theranautilus Secures $1.2 Mn in Seed...
19 Nov 2024
Avanse Financial Services, a prominent NBFC specializing in education financing, has submitted a draft red herring prospectus (DRHP) to Sebi for its upcoming IPO to raise Rs 3,500 crore. This includes a fresh equity sale of Rs 1,000 crore and an offer for sale (OFS) of up to Rs 2,500 crore by existing shareholders such as Olive Vine Investment, International Finance Corporation, and Kedaara Capital Growth Fund III.
The IPO proceeds will primarily bolster its capital base to support future business growth and asset expansion. Qualified institutional buyers are allotted 50% of the offering, retail investors 35%, and non-institutional investors 15%.
As of March 2024, Avanse ranks as India's second-largest education-focused NBFC by assets under management (AUM), with strong performance metrics including substantial disbursements in FY23 and significant profit after tax in FY24 among education-focused NBFCs.
Avanse offers a comprehensive range of education-related financial products, including international and domestic student loans, education infrastructure financing, and collateral-backed loans for private educational institutions across India.
The IPO's book-running lead managers include Kotak Mahindra Capital, Avendus Capital, JP Morgan India, Nomura Financial Advisory and Securities, Nuvama Wealth Management, and SBI Capital Markets.
Chat on WhatsApp
Request a call back
