Avanse Financial Services Limited, an education focused non-banking financial company (\u201cNBFC\u201d) operating in India, has filed fresh Draft Red Herring Prospectus (DRHP) with SEBI for an Initial Public Offering (IPO).<\/p>\n\n\n\n
Avanse Financial Services is the second largest education focused NBFC in India by assets under management (\u201cAUM\u201d) as of March 31, 2024 (Source: CRISIL MI&A Report). It also has the second highest disbursements during the Financial Year 2023 and recorded the second highest profit after tax in Financial Year 2024 among education focused NBFCs in India. The company offer 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 \u2013 international and education loans \u2013 domestic businesses, the company provides loans and other value-added services to Indian students and professionals who are admitted to study overseas or at domestic institutions. It also provides collateral-backed financing to private educational institutions in India.<\/p>\n\n\n\n
The Public Offer aggregating up to \u20b93500 crore comprises of a fresh issue of equity shares of up to \u20b91000 crores and an offer for sale (OFS) of up to \u20b92500 crore by the \u201cSelling Shareholder\u201d (The \u201cOffer for Sale\u201d)<\/strong> with face value of \u20b95 each equity share.<\/p>\n\n\n\n The offer for sale comprises of equity shares aggregating up to \u20b91758 crore by Olive Vine Investment Ltd (\u201cPromoter Selling Shareholder\u201d)<\/strong>; equity shares aggregating up to \u20b9342 crore by International Finance Corporation and, equity shares aggregating up to \u20b9400 crore by Kedaara Capital Growth Fund III LLP (\u201cKedaara Capital\u201d, together with IFC, the \u201cInvestor Selling Shareholders\u201d<\/strong>) (the promoter selling shareholder, along with the investor selling shareholders, collectively referred to as the \u201cSelling Shareholders\u201d<\/strong>) (\u201coffer for sale\u201d, and together with the fresh issue, the \u201cOffer\u201d).<\/strong><\/p>\n\n\n\n The Promoter of the Company is Olive Vine Investment Ltd.<\/p>\n\n\n\n Avanse Financial Services Limited proposes to utilize the Net Proceeds towards augmenting capital base to meet the Company\u2019s future capital requirements arising out of growth of business and assets. <\/strong><\/p>\n\n\n\n The Equity Shares that will be offered through the Red Herring Prospectus are proposed to be listed on the Stock Exchanges, being BSE Limited (\u201cBSE\u201d)<\/strong> and National Stock Exchange of India Limited (\u201cNSE\u201d<\/strong> together with BSE, the \u201cStock Exchanges\u201d<\/strong>)<\/p>\n\n\n\n