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