Avanse Financial Services Filed DRHP with SEBI to Raise ₹3,500 Crore

Education-focused non-banking financial company (NBFC) Avanse Financial Services Limited filed a draft red herring prospectus (DRHP) with the market regulator Securities and Exchange Board of India (SEBI) to float an initial public offering (IPO). Avanse Financial IPO is a mix of fresh issue and offer for sale, whereby the company is seeking to raise ₹1,000 crore via fresh issue and ₹2,500 crore from the offer for sale. This translates to a total IPO size of ₹3,500 crore.

Avanse Financial has appointed Avendus Capital Private Limited., J.P. Morgan India Private Limited, Nomura Financial Advisory and Securities (India) Private Limited, Nuvama Wealth Management Limited (formerly known as Edelweiss Securities Limited), SBI Capital Markets Limited as book runner lead manager of the IPO. After the IPO process, the company will be listed on NSE and BSE.

Objective of Avanse Financial IPO

Fresh Issue

The company proposes to use the Net Proceeds to augment its capital base and meet its future capital requirements arising from the growth of its business and assets.

Offer for Sale

The company will not receive any proceeds from the Offer for Sale. The Selling Shareholders will be entitled to the proceeds from the sale of their respective portion of the Offered Shares in the Offer for Sale.

About Avanse Financial Services Limited

Incorporated in 1992, Avanse Financial Services Limited is an education-focused non-banking financial company (NBFC) operating in India. The company offers a full-stack education

offering products ranging from education loans for students to growth capital for education institutions through education infrastructure loans.

The company provides loans and other value-added services to Indian students and professionals who are admitted to study overseas or at domestic institutions. As of March 31, 2024, the company has been ranked the second largest education-focused NBFC in India by assets under management (AUM).

As of March 31, 2024, the company has maintained a broad spectrum of 38 lending relationships with banks and financial institutions, including public-sector banks, private-sector banks, multinational banks, mutual funds and insurance companies.

Stay ahead with the latest on Upcoming IPOs! Discover promising opportunities and get ready to invest.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.