Avanse Financial Services, promoted by Warburg Pincus and backed by Kedaara Capital and IFC, filed draft papers with Sebi to raise 3,500 crore via an initial public offer (IPO).

3,500 crore via an initial public offer (IPO).” title=”Avanse Financial Services filed draft papers with Sebi to raise 3,500 crore via an initial public offer (IPO).” /> ₹3,500 crore via an initial public offer (IPO).” title=”Avanse Financial Services filed draft papers with Sebi to raise 3,500 crore via an initial public offer (IPO).” />
Avanse Financial Services filed draft papers with Sebi to raise 3,500 crore via an initial public offer (IPO).

The IPO consists of a fresh issue size of 1,000 crore and an OFS ( offer for sale ) by Warburg Pincus, Kedaara Capital and IFC for 2,500 crore, Moneycontrol reported. 

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Net proceeds from the IPO will be used by Financial Services to augment its capital base to meet future capital requirements arising out of growth of our business and assets, the report added. 

Kotak Mahindra Capital, Nomura, JP Morgan, Avendus Capital, Nuvama and SBI Capital are the investment banks working on the listing of the firm.