Abu Dhabi’s Mubadala Investment Co is reportedly likely to lead a clutch of investors to make a $133 million funding in the Warburg Pincus-backed Indian non-banking financial services (NBFC) company, Avanse Financial Services.
Kotak Pre-IPO Opportunities Fund and Avendus Future Leaders Fund are likely to be the other investors to fund the NBFC, The Economic Times (ET) reported.
The proposed investment is to be done as a primary capital infusion into Avanse.
Avanse is the second largest domestic private sector NBFC in the education loan segment with estimated assets under management (AUM) of $1.04 billion (INR 86.46 billion) in FY23.
The proposed deal will value the Warburg Pincus-owned NBFC at INR 80 billion, the ET report said.
US private equity firm Warburg Pincus acquired about 80 percent stake in Avanse Financial Services, the education finance arm owned by Wadhawan Global Capital in 2019.
ET said spokespersons of Avanse and Avendus declined to comment on the issue.
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