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.