Avanse Financial Services raises Rs 390 cr via rights issue

Updated: Sep 21 2022 8:03PM

Mumbai, Sep 21 (PTI) Education-focused Non-Banking Financial Company (NBFC) Avanse Financial Services on Wednesday said it has raised Rs 390 crores from its existing shareholders through rights issue.

The Rs 390-crore fund was raised from existing shareholders, including global private equity firm Warburg Pincus through its affiliate Olive Vine Investment and World Bank arm International Finance Corporation (IFC) as per their existing shareholding pattern -- 80 per cent and 20 per cent -- respectively, the NBFC said in a statement.

After the fresh infusion of funds, the company said its net worth stood at Rs 1,450 crore.

Press Trust Of India (PTI) is India's premier news agency, with a reach as vast as the Indian Railways'. It employs nearly 400 journalists and 500 stringers to cover almost every city and small town in India. Collectively, our journalists put out more than 1,000 stories and 250 photographs including graphics every day to feed the appetite of the diverse subscribers, who include the mainstream media, the specialized presses, research groups, companies, and government and non-governmental organizations.

General Access

Add On Customer Packages

The Press Trust Of India Ltd.

PTI building 4, Parliament Street, New Delhi-110 001

© PTI 2021, All Right Reserved

Designed by: 4c Plus