Avanse Financial Services raises Rs 1,200 crore via rights issue

This fresh capital raised will be utilised to scale education loan disbursements, improve education infrastructure, and deepen institutional partnerships, it said.

NBFC firm Avanse Financial Services (Avanse) on Monday said it has raised Rs 1,200 crore from existing shareholders Warburg Pincus, Kedaara Capital, and Alpha Investment Company LLC via a rights issue.

This capital raise underscores strong shareholder confidence and Avanse's disciplined approach to building a diversified funding base, aligned to its strategy to raise capital in a calibrated manner, the company said in a statement.

Moneycontrol had earlier reported that Avanse Financial Services was planning to raise Rs 1,374 crore, approximately $152 million, from its existing shareholders.

Avanse has consistently delivered sustained growth by focusing on enabling the academic aspirations of Indian students, supported by robust risk management practices and strong execution capabilities across domestic and international education segments, it said.

This fresh capital raised will be utilised to scale education loan disbursements, improve education infrastructure, and deepen institutional partnerships, it said.