PE Fund Investments
Student loans provider Avanse raises Rs.390-Cr more from Warburg Pincus, IFC
Mumbai-based Avanse Financial Services, an education-focused non-bank lender has raised about INR 390 crore from existing shareholders Warburg Pincus and International Finance Corporation (IFC) through a rights issue of shares. Private Equity firm Warburg Pincus holds 80% in Avanse through affiliate Olive Vine Investment while IFC holds the balance 20%. With this capital infusion, Avanse's net worth has risen to about INR 1,450 crore. The equity raised would enable Avanse to strengthen its balance sheet and capital adequacy ratio. Its assets under management stood at INR 4,836 crore at the end of March, reflecting a 22% compounded growth over the last four years.
Between Feb-13 and Jul-19, Avanse had raised about USD 170 M (about INR 1,173 Cr) from IFC and Warburg Pincus.
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