Avanse Raises USD 200M ECB Led by DBS and HSBC India
Mumbai, August 22, 2025: Avanse Financial Services Limited (“Avanse”), a leading education-focused non-banking financial company (NBFC) in India, has successfully secured a multi-currency syndicated External Commercial Borrowing (ECB) loan equivalent to USD 200 million. The transaction was jointly led by DBS Bank Limited (“DBS Bank”) through its IFSC banking unit in Gujarat International Finance Tec-City (GIFT City) and HSBC India. They primarily acted as mandated lead arrangers and book-runners for this loan.
The syndication attracted participation from prominent banks spanning Taiwan, Japan, Singapore, Sri Lanka, the UAE, and India. It is classified as a social loan as Avanse aims to utilise this fund to enable students from economically weaker sections of society to fulfil their academic aspirations seamlessly. The transaction comprised commitments of USD 141.3 million and a JPY tranche equivalent to USD 58.7 million, totalling USD 200 million equivalent. Avanse believes that the ECB route is a strategic lever to tap into deep, diversified pools of capital while fostering long-term partnerships with leading domestic and global financial institutions, enhancing both funding resilience and market positioning.
Amit Gainda, Managing Director & Chief Executive Officer, Avanse Financial Services, said, “This syndicated social-linked loan facility marks another important milestone in our mission to make education financing seamless and affordable for every deserving Indian student. This multi-currency transaction reaffirms international lenders’ confidence in our long-term strategy, purpose-driven mission, and ability to deliver sustainable growth while creating consistent value for all our stakeholders. More than a source of capital, such borrowings reflect our conviction that lasting success depends not only on strong financial performance, but also on the positive, measurable impact we create for our social environment, the communities we serve, and all stakeholders connected to our journey.”
Divyesh Dalal, Managing Director & Country Head – Global Transaction Services, Corporate Banking – Financial Institutions and SMEs, DBS Bank India, said, “We are pleased to have led this transaction, which aligns closely with Avanse’s goal of making quality education more inclusive. At DBS, we believe that enabling access to education is key to cultivating talent and driving long-term socio-economic progress. By leveraging our strong syndication and structuring expertise, we aim to deliver innovative solutions that unlock growth opportunities for enterprises. This also underscores DBS’ commitment to purpose-driven banking and our focus on supporting sectors that create meaningful impact.”
Ajay Sharma, Managing Director and Head of Banking, HSBC India, said, “We are pleased to work alongside Avanse to arrange their first multi-currency syndicated ECB, reinforcing our focus on the syndicated loans space for Indian financial institutions. This underscores our commitment to support companies, drive meaningful and transformative impact.”
As a student-centric education-focused organisation, Avanse empowers dreams across the academic spectrum – from students seeking advanced degrees in India and abroad to institutions aiming to scale and modernise their educational delivery. It has a vast network of students enrolled in 1,650+ educational institutions spanning across 50 countries.