CosmicTaco
Avanse Financial Services Files for INR 3,500 Cr IPO Amidst New-Age Tech IPO Boom
- Avanse Financial Services, backed by Warburg Pincus and other marquee investors, has filed for an INR 3,500 Cr IPO with SEBI.
- The IPO includes a fresh issue of INR 1,000 Cr and an offer for sale of INR 2,500 Cr, contributing to over INR 1 Lakh Cr of expected IPOs this fiscal.
- Avanse, a leading NBFC in the education loan market, competes with major banks and other NBFCs, focusing on high-ticket overseas education loans.
- The company reported a PAT of INR 342.4 Cr in FY24, with a significant increase in operating revenue and interest income.
- Avanse aims to use the IPO proceeds to augment its capital base, leveraging its strong market position and investor support.
Source: DRHP Filings - https://www.sebi.gov.in/filings/public-issues/jun-2024/avanse-financial-services-limited_84390.html
4mo ago
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