Auxilo, an education-focused NBFC, has raised Rs 50 crore in non-convertible debt from AK Capital Finance. The Mumbai-based company’s board approved the allotment of 5,000 NCDs at an issue price of Rs 1,00,000 each, totaling Rs 50 crore.
“The offer also includes an option for an additional subscription of Rs 25 crore,” said the company’s regulatory filings.
Established in 2017, Auxilo provides student loans for education in India or abroad, along with loans for educational institutions’ infrastructure and working capital needs.
“Auxilo has raised over $100 million across equity and debt since its inception,” the company competes with well-funded firms like Grayquest, Avanse Financial, and others.
“In July last year, Auxilo raised Rs 470 crore in a funding round led by Tata Capital,” noted a startup intelligence platform.
“Post-allotment, Tata Capital owns 10.58% shares in the company while ICICI Bank has a 9.34% stake,” the company’s shareholding pattern reveals.
“Auxilo’s revenue from operations grew 2X to Rs 178 crore in FY23,” including net gains on fair value.
“The company’s profits also surged two-fold to Rs 25.7 crore during the year,” according to TheKredible.
“As of July 2023, Auxilo claims to have funded over 7,500 students across over 900 universities in over 25 countries,” showcasing its global reach.
“During FY22, the company’s loan book stood at Rs 769 crore,” comprising education and institute loans, indicating its significant presence in the education finance sector.
