Avanse raises Rs 390 crore from Warburg Pincus & IFC

Avanse Financial Services, an education-focused non-bank lender raised about Rs 390 crores from its existing shareholders, Warburg Pincus and International Finance Corporation (IFC). The investment was done through a rights issue of shares in proportion to the shareholding. Private equity firm Warburg Pincus holds 80% in Avanse through affiliate Olive Vine Investment while IFC holds the balance 20%.

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