- IPO Size: ₹3,500 crore, including ₹1,000 crore as fresh issue.
- Purpose: Expanding capital for growth and covering IPO expenses.
- Financial Growth: Revenue up by 75% and profit up by 117% from FY 2023 to FY 2024.
- Broad Presence: 545 locations with a hybrid distribution model.
Avanse Financial Services is gearing up for a significant IPO worth ₹3,500 crore, although official dates and price bands have yet to be confirmed. This book-built issue includes a fresh issue of ₹1,000 crore and an offer for sale worth ₹2,500 crore, with a face value of ₹5 per share. Managed by leading firms including Kotak Mahindra Capital, Avendus Capital, and J.P. Morgan India, the IPO will list on both BSE and NSE exchanges. Link Intime India Private Ltd will oversee the registrar duties.
Avanse Financial Services IPO Snapshot
| Detail | Value |
|---|---|
| IPO Type | Book Built Issue |
| IPO Size | ₹3,500 crore (approx) |
| Fresh Issue | ₹1,000 crore |
| Offer for Sale | ₹2,500 crore |
| Face Value | ₹5 per share |
| Listing | BSE, NSE |
| Lead Managers | Kotak Mahindra Capital, Avendus Capital, J.P. Morgan, Nomura, Nuvama Wealth Management, SBI Capital Markets |
| Pre-Issue Holding | 251,823,232 shares |
| Promoter | Olive Vine Investment Ltd |
Avanse Financial Services IPO Reservation for Investor Categories
| Investor Category | Shares Offered |
|---|---|
| QIB (Qualified Institutional Buyers) | Not more than 50% of the Net Offer |
| Retail Investors | Not less than 35% of the Net Issue |
| NII (High Net-Worth Individuals) | Not less than 15% of the Net Issue |
About Avanse Financial Services Limited
Avanse Financial Services is a leading non-banking financial company (NBFC) focused on education financing. As of March 31, 2024, the company is India’s second-largest education-focused NBFC by assets under management (AUM) and second in terms of disbursements and profit. Avanse provides diverse financial products, from student loans for domestic and international education to infrastructure loans for educational institutions. Additionally, Avanse offers value-added services such as insurance, foreign exchange, financial health reports, and overseas bank account setup through third-party providers.
With a presence in 545 locations across India, Avanse utilizes a hybrid distribution model consisting of 19 branches, 320 education advisors, 452 direct sales agents (DSAs), and an extensive digital acquisition network.
Avanse Financial Services Financial Highlights
Avanse has demonstrated robust financial growth, with revenue increasing by 75% and profit after tax (PAT) by 117% from FY 2023 to FY 2024. Below is a financial summary:
| Period | March 31, 2024 | March 31, 2023 |
|---|---|---|
| Assets | ₹14,343.84 crore | ₹9,729.95 crore |
| Revenue | ₹1,728.81 crore | ₹990.23 crore |
| Profit (PAT) | ₹342.4 crore | ₹157.71 crore |
| Net Worth | ₹3,676.72 crore | ₹2,149.72 crore |
| Reserves | ₹3,560.38 crore | ₹2,040.73 crore |
| Borrowing | ₹10,135.25 crore | ₹7,210.13 crore |
Avanse Financial Services IPO Objectives
The primary objectives for raising funds through this IPO include:
Covering Offer Expenses: Funds will be allocated for expenses related to the IPO.
Expanding the Capital Base: To support the company’s business growth and increasing asset requirements.
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