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08 Aug, 2025
Avanse Financial Services, a provider of education loans, has filed its draft red herring prospectus (DRHP) with SEBI for an initial public offering (IPO) valued at Rs 3,500 crore. This Mumbai-based firm aims to issue fresh shares worth Rs 1,000 crore to bolster its capital base.
Private equity firms Warburg Pincus, Kedaara Capital, and IFC plan to sell shares worth Rs 2,500 crore in the IPO. Avanse is the first education-focused non-banking finance company (NBFC) to pursue a public listing.
The company offers a variety of products, including student education loans and growth capital for educational institutions via education infrastructure loans. Avanse supports Indian students and professionals studying both domestically and internationally.
As of March 31, 2024, Avanse had extended loans to 35,802 students across 1,264 universities in 41 countries. The growing demand for higher education has significantly increased the need for student loans, with the overall educational loan portfolio rising to Rs 1.66 trillion by December 2023, up from Rs 1.36 trillion in March 2023.
In India, banks hold 76% of the total education loan portfolio, while NBFCs account for the rest. Among NBFCs, HDFC Credila and Avanse Financial are leaders.
Avanse's institutional loan business has assets under management (AUM) of Rs 22,663 crore, which is 17% of its total AUM, with an average loan size of Rs 1.4 crore.
These loans primarily fund infrastructure and capital needs with flexible terms. Avanse had outstanding loans to 1,990 educational institutions as of March 31, 2024. The IPO is managed by Kotak Mahindra, Avendus Capital, JP Morgan, Nomura, Nuvama, and SBI Capital.
Shares of Vodafone Idea (VIL) rose by 4% on Friday following reports of its 5G rollout completion across all 17 circles where it holds spectrum. The rollout was completed with a penalty of around Rs 1 crore. Vodafone Idea confirmed in a statement that it had fulfilled its Minimum Rollout Obligation (MRO) for 5G services across all its circles, as mandated by the Department of Telecommunications (DoT).
The IPO of DEE Development Engineers, a piping solutions provider, was subscribed 98.98 times on its final subscription day. The Rs 418 crore share sale received bids for 1,479.2 million shares against an offer of 14.944 million shares. The portion for qualified institutional buyers was subscribed 201.91 times, non-institutional investors 143.43 times, and retail investors 22.52 times.
The IPO of luxury furniture brand Stanley Lifestyles was subscribed 1.43 times on its first subscription day. It received bids for 14.6 million shares against 10.24 million shares on offer. Non-institutional investors' portion was subscribed 2.01 times, retail investors 1.80 times, and qualified institutional buyers 30%. The IPO includes a fresh issue of up to Rs 200 crore.
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