Debt financing
Education-focused NBFC Avanse Financial Services raises $200-M
Mumbai-based, education-focused non-banking financial company (NBFC) Avanse Financial Services Ltd has secured a multi-currency, syndicated External Commercial Borrowing (ECB) loan of equivalent to USD 200 million. The transaction comprised commitments of USD 141.3 million and a JPY tranche equivalent to USD 58.7 million.The transaction was jointly led by DBS Bank Ltd through its IFSC banking unit in GIFT City and HSBC India. The round saw participation from banks across Taiwan, Japan, Singapore, Sri Lanka, the UAE, and India.Founded in 2013, Avanse provides personalised education financing solutions to students and caters to the growth and working capital needs of educational institutions in India.
Between Feb 2013 and Mar 2024, Avanse Financial Services had attracted about USD 464 M from IFC, Warburg Pincus, DFC, Kedaara Capital, Avendus, Kotak Alternate and Mubadala Investment.For FY24, Avanse Financial Services had reported about INR 1,727 Cr in Operating Income and about INR 342 Cr in PAT.
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