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.
FinTech BizNews Service
Mumbai, August 21, 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.
