Warburg Pincus-backed Avanse Financial Services files draft papers with SEBI for an IPO
Crisil report, with products ranging from student education loans to expansion capital for educational institutions in the form of education infrastructure loans.Draft Red Herring Prospectus (DRHP) states that Olive Vine Investment Ltd, a Warburg Pincus affiliate, is the company's promoter. International Finance Corporation and affiliates of Kedaara Capital, Mubadala Investment Company, and Avendus Future are among the institutional shareholders.Also Read: Ola Electric, Emcure Pharmaceuticals get SEBI nod for IPO launchA fresh issuance of equity shares up to ₹1000 crore and an offer for sale (OFS) of up to ₹2500 crore by the "Selling Shareholder" with a face value of ₹5 per equity share make up the public offer, which has a combined total value of ₹3500 crore.The offer for sale includes equity shares from Olive Vine Investment Ltd (Promoter Selling Shareholder) up to ₹1,758 crore; equity shares from International Finance Corporation (Investor Selling Shareholder)up to ₹342 crore; and equity shares from Kedaara Capital Growth Fund III LLP (Investor Selling Shareholder) up to ₹400 crore.Also Read: Stanley Lifestyles IPO hits D-Street today; check GMP, review, and other key details.
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