Latest news with #Avanse
Time of India
16 hours ago
- Business
- Time of India
Avanse Financial Services and AWS collaborate to empower India's youth with technology skills
Avanse Financial Services (Avanse), a leading education-focused non-banking financial company (NBFC) in India, announced its partnership with Amazon Web Services, Inc. ( AWS ) to make high-quality, industry-relevant technology education accessible to a wider student base, regardless of their financial background. Avanse and AWS aim to support more aspiring individuals in gaining job-relevant skills by offering financial ease and access to high-quality learning. India has a favourable demographic dividend with a large young population. To fully leverage this advantage and meet the demands of the global job market, it is crucial to provide adequate skill training to enhance employability. Keeping this in mind, Avanse partnered with AWS to make relevant courses available to its student universe across the world. The approach to leveraging this collaboration will follow a two-pronged strategy: AWS Skill Builder: Avanse will provide curated skill-building programmes by AWS, along with the necessary funding, to both its existing and prospective higher education re/Start: Avanse has designed several CSR initiatives to make quality education accessible for underserved Indian students. To strengthen its commitment, Avanse will make skill-building courses accessible via AWS re/Start to students at zero cost, providing the critical support they need to soar towards their aspirations. Amit Gainda, Managing Director & CEO, Avanse Financial Services, said, 'In a rapidly changing world, skill development is crucial for individuals to adapt, thrive, and remain relevant. The right skills equip individuals with the knowledge and abilities needed to navigate new technologies, industries, and job markets, enhancing employability, career advancement, and personal growth. This strategic partnership will enable us to transform education financing into a holistic, future-forward force, enhancing access to education while also supporting broader pathways to empowerment and economic mobility.' He further added, 'This collaboration will enable us to further strengthen our commitment towards India's digital and skilling transformation. By integrating AWS's world-class skilling programmes with our education financing expertise and student access, we aim to create a robust ecosystem that unlocks potential at scale, making quality education accessible, affordable and relevant to today's dynamic learning landscape.' The collaboration between Avanse and AWS aims to equip ambitious aspirants with practical skills and cloud expertise through dynamic, hands-on learning experiences. This further empowers Avanse to remain steadfast in its mission of making education financing seamless and affordable for every deserving Indian student.
Time of India
20 hours ago
- Business
- Time of India
Avanse to Fund AWS Tech Courses to Boost Student Employability
Mumbai: In a bid to align financing with employability, Avanse Financial Services, an education-focused lender, has partnered with Amazon Web Services to offer cloud-computing courses at no cost to underserved Indian students. The non-bank financier, which specialises in student loans, will integrate AWS's re/Start programme which is an entry-level tech skilling initiative into its corporate social responsibility framework. The course, designed to train learners in cloud fundamentals and soft skills, is being offered without charge to students from lower-income backgrounds. Once equipped with job-relevant skills, these students may then be eligible for loans from Avanse to pursue further education, including higher studies in India or overseas. While free education and credit may seem contradictory, the strategy reflects a broader shift towards embedding value into loan origination. By offering skill-building upfront, Avanse not only expands its future customer base but also lowers long-term credit risk by boosting employability. 'In a rapidly changing world, skill development is crucial for individuals to adapt, thrive, and remain relevant,' said Amit Gainda, managing director and CEO of Avanse. Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Learn More - How Donating Sperm May Support Your Income SpellRock Undo by Taboola by Taboola He added that the tie-up with AWS aims to transform education finance into a 'holistic, future-forward force.' The company also plans to offer AWS's Skill Builder courses to existing and prospective borrowers, bundling curated digital learning with loan products. It is a modest experiment in turning finance into a platform—not just a source of capital but a gateway to opportunity. Whether such hybrid models can scale sustainably remains to be seen. Stay informed with the latest business news, updates on bank holidays and public holidays . Discover stories of India's leading eco-innovators at Ecopreneur Honours 2025
Mint
21-07-2025
- Business
- Mint
Student loan provider Avanse Financial looks to raise $250 million in private round after shelving IPO
Mumbai: Avanse Financial Services Ltd, a non-banking financial company (NBFC) backed by Kedaara Capital and Warburg Pincus, is looking to raise $200-250 million in a private round in which some of its existing investors will sell part of their stakes, three people with knowledge of the development said. The new round will be largely secondary, and will include a small primary component as the company is well capitalised following a capital infusion by Kedaara Capital ( ₹200 crore), Mubadala Investment Company ( ₹900 crore through its affiliate Alpha Investment Company LLC), Avendus PE Investment Advisors Pvt Ltd ( ₹100 crore via its Avendus Future Leaders Fund II), and internal accruals in FY24. IPO shelved The company, which filed draft papers for an initial public offering (IPO) with Sebi last July, is likely to postpone its IPO in favour of the private fundraise, these people said. Other investors in the company include International Finance Corporation (IFC) and Warburg Pincus. On 31 July 2024, Avanse had filed draft documents for a ₹3,500-crore IPO, which included a fresh issuance of shares worth ₹1,000 crore and an offer for sale in which existing investors would sell shares worth ₹2,500 crore. It received Sebi's approval on 24 October. 'The company's window to go public closes in October (2025). Given the market conditions, it is unlikely to refile its documents," said one of the people cited above, who did not wish to be named as the discussions are private. IFC and Kedaara did not respond to Mint's queries while Warburg and Avanse declined to comment. After Indian companies raised a record ₹1.69 trillion through IPOs in 2024, the euphoria around public offerings appears to be softening in 2025 amid volatile market conditions. The mainboard segment, once flooded with enthusiastic bidders, is now seeing lukewarm interest, subdued subscription levels, and sharply lower listing gains. A Mint analysis revealed that only 19.2% of mainboard IPOs this year have been oversubscribed by 80 times or more, while 38.5% were oversubscribed by 1-10 times. Median listing gains for mainboard IPOs have dropped to just 8%, while SME IPOs have seen a sharper decline to 4.6%—a far cry from 2024's 17.3% and 39.3%, respectively. Second-largest provider Avanse provides education financing, including international and domestic student loans and infrastructure loans for educational institutions. It disburses loans through a hybrid network of branches, education counsellors and digital channels. Two NBFCs dominate the overseas education loan market. HDFC Credila Financial Services had a 62% share of the market as of 31 December 2023, while Avanse had a 24% share. Other key NBFCs in the space are Auxilo Finserve, InCred Finance, Prodigy Finance and MPower. Avanse was also the second NBFC offering education loans that planned to go public after Credila, which is backed by ChrysCapital and EQT. Credila filed its updated draft papers last month for a ₹5,000-crore IPO. 'Credila's IPO would have served as a good measure of where the market stands on an education-focused NBFC," said the second person cited above. 'Avanse is likely to appoint a banker to manage its private round and initial talks have begun," the third person added. According to Avanse's draft IPO papers, its AUM increased 65.86% to ₹13,303 crore in FY24 from ₹8,646 crore in FY23. Total income grew to ₹1,729 crore in FY24, with net profit rising to ₹342 crore. For comparison, the company posted ₹990 crore in operating revenue on a profit of ₹157 crore in FY23. A bulk of its AUM came from overseas education loans, with growth in the segment driven by markets such as the US (48.30% of the overseas book), the UK (23.78%), and Canada (12.58%). Avanse has given loans to students enrolled in 1,585 universities and colleges across 49 countries. It predominantly finances science, technology, engineering and mathematics (STEM) courses, which comprised 72.13% of its overseas education loan portfolio as of 31 December 2024. MBA and other courses accounted for the remaining 27.87%. Niche but growing market Overseas education financing is a niche market in India, largely funded by specialised NBFCs. It has been growing thanks to an increasing number of students choosing pursue higher education abroad. Avanse has been one of the biggest beneficiaries of this shift, gaining market share and maintaining its leadership position, Care Edge Ratings said in a report. The credit rating agency noted that the company has an established presence and improving profitability, and is poised to raise funds at competitive rates and improve its operational efficiency. In FY25 the company posted an operating income of ₹2,350.8 crore and a profit of ₹504 crore. However, Care added that the business could face headwinds from product and geographical concentration, moderate portfolio seasoning, and asset quality that's susceptible to risks inherent in the unsecured loans segment. While the company receives a bulk of its revenue from the top four destination countries, it has gradually been diversifying into loans for educational institutions and students in India to reduce seasonality. It has also started offering loans Indian students for studying digitally, particularly for upskilling and test preparation, the report said. In India, the education market – domenstic and overseas – was estimated at ₹18.5-19 trillion in FY24, according to a Crisil report published last year. Crisil expects India's overseas education market to outpace the domestic market. It estimates overall market to grow at a compound annual rate of 12-13% from FY24 to FY29, achieving ₹24 trillion in size.
