About Avanse Financial Services Limited
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Avanse Financial Services Limited is a public limited company based in Mumbai, Maharashtra, India. It operates in the non-banking financial services (NBFC) segment of the financial services sector. It was incorporated on 07 August 1992 and has been in existence for over 34 years.
The company is registered with the Registrar of Companies (ROC), Mumbai, under CIN U67120MH1992PLC068060. Its GSTIN is 27AAACA4267A1Z5 (Maharashtra). The company holds 12 GST registrations, all of them active.
The company has an authorised share capital of ₹200 Cr and a paid-up capital of ₹157.66 Cr. It was formerly known as Avanse Financial Services Private Limited and Abhivruddhi Holdings Private Limited. It is led by directors including Amit Gainda (Managing Director) and Savita Mahajan.
Its last annual general meeting (AGM) was held on 11 August 2026, and its latest financial statements are for the year ended 31 March 2026. The registered office is at Mumbai, Maharashtra.
As per the financials filed for FY 2025, the company reported a revenue of ₹2,351.75 Cr, a growth of 36% compared to the previous year. For the same year it recorded a net profit of ₹502.12 Cr (net margin 21.4%) and EBITDA of ₹1,925.04 Cr (EBITDA margin 81.9%). Revenue has grown at a compounded annual rate (CAGR) of 67% over three years and 40% over five years.
The company has about 723 employees on its provident fund (EPFO) records. Its group structure includes 1 subsidiary.
The company is associated with 1 brand: Avanse. As per MCA filings, the company has open charges of ₹25,834 Cr and satisfied charges of ₹6,642.69 Cr on record. Court records list 5,913 cases involving the company, including 5,738 filed by the company and 175 filed against it; 3,362 cases are pending. The company has 18 deals on record (9 funding rounds, 4 rights issues, 4 secondary share transfers), with disclosed funding of ₹2,616.46 Cr; the latest was in March 2024. The company has 12 MSME Form 1 returns on record between 2019 and 2024, listing 1,941 overdue payments to 230 micro and small suppliers.
The current compliance status is marked as compliant by the Registrar of Companies. For more details, the company can be reached via its website avanse.com.
Company details
Name history
Avanse Financial Services has undergone 2 name changes throughout its history. The company was previously known as Avanse Financial Services Private Limited, and Abhivruddhi Holdings Private Limited. The current legal name is Avanse Financial Services Limited.
| Company Name | Status |
|---|---|
| Avanse Financial Services Limited | Current |
| Avanse Financial Services Private Limited | Previous |
| Abhivruddhi Holdings Private Limited | Previous |
CIN history
Avanse Financial Services has one previous CIN (Corporate Identification Number): U67120MH1992PTC068060. The current CIN is U67120MH1992PLC068060, which is the unique identifier assigned by the Registrar of Companies.
| CIN | Status |
|---|---|
| U67120MH1992PLC068060 | Current |
| U67120MH1992PTC068060 | Previous |
Contact details
Avanse Financial Services Limited's registered office is in Mumbai, Maharashtra. Its website is avanse.com. Its e-mail address and telephone number are in the company report.
- Email
- Telephone
- Website
- Social Media
- Registered Address4th Floor E – Wing Times Square Andheri – Kurla Road, Gamdevi Marol Andheri East, Mumbai, Maharashtra, India – 400059
- IndustryFinancial Services, NBFC, Investment & Credit NBFC
To see the full contact details of Avanse Financial Services Limited, buy the company report.
- Company details, directors and signatories
- Historical financials and ratios
- Shareholding pattern and group structure
- Charges with holder and property details
- Legal cases, compliance and MCA filings
Brands
Avanse Financial Services operates one associated brand: Avanse. Each brand links to its own profile.
| Brand | Description | Website |
|---|---|---|
| Financial services for education loans and refinancing are provided. | avanse.com |
Business activity
The main business activity of Avanse Financial Services is financial and insurance service. In detail, this covers financial and credit leasing activities.
| Main activity group code | Main activity | Business activity code | Business activity | Share of turnover |
|---|---|---|---|---|
| K | Financial and insurance Service | K5 | Financial and Credit leasing activities |
To see the full business activity and turnover split of Avanse Financial Services Limited, buy the company report.
Financials of Avanse Financial Services Limited
FY 2026 filings availableAvanse Financial Services Limited reported revenue of ₹2,351.75 Cr (up 36% YoY) for FY 2025.
Compounded Annual Growth Rate (CAGR)
Revenue has grown at a compounded annual rate (CAGR) of 40% over five years, including 36% growth in the latest year. EBITDA rose 42% in the latest year. Three- and five-year figures are compounded annual growth rates (CAGR): the steady yearly rate that links the first and the last year. All are worked out from the filed statements.
Financial Statement Summary
| Metrics | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 |
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| EBITDA | ₹1,925.04 Cr | ||||
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| Net Profit (PAT) | ₹502.12 Cr | ||||
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Financial Ratios
| Metrics | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 |
|---|---|---|---|---|---|
| Profitability | |||||
| EBITDA Margin | 81.9% | ||||
| Net Profit Margin | 21.4% | ||||
| Return on Equity (ROE) | |||||
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To see the full financial statements and ratios of Avanse Financial Services Limited, buy the company report.
Board of directors and KMP of Avanse Financial Services Limited
Avanse Financial Services Limited currently reports 11 directors and 1 key managerial person. 22 former directors have served the organization.
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Savita Mahajan | Director | 01 Dec 2018 | 7 Years 10 Months | Current |
| Ravi Venkatraman | Director | 05 Jul 2021 | 5 Years 3 Months | Current |
| Narendra Ostawal Also directs: Nna Cre Properties LLP, Idfc First Bank Limited, Micro Life Sciences Private Limited and 2 more | Director | 30 Jul 2019 | 7 Years 2 Months | Current |
| Sunish Sharma Also directs: Kedaara Capital Advisors LLP, Nish Capital Advisors LLP, Kedaara Capital Fund II LLP and 5 more | Nominee Director | 01 Jul 2024 | 2 Years 3 Months | Current |
| Hemant Omprakash Mundra Also directs: Warburg Pincus India Private Limited, Fusion Finance Limited, Parksons Packaging Limited and 3 more | Nominee Director | 01 Jul 2024 | 2 Years 3 Months | Current |
| Rajesh Pravinkumar Gandhi | Company Secretary | 11 Nov 2022 | 3 Years 11 Months | Current |
Auditor
Avanse Financial Services Limited is audited by T.R.CHADHA & CO. LLP for the financial year 2018.
| Auditor firm | Financial year | Firm registration number |
|---|---|---|
| T.R.CHADHA & CO. LLP | FY 2018 | 006711N/N500028 |
Shareholding
The shareholding of Avanse Financial Services Limited is on record for 5 financial years, the latest being FY 2023, split between promoters, domestic institutions, foreign institutions, public shareholders and others.
| Shareholder category | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|
| Promoters | |||||
| Domestic institutional investors (DII) | |||||
| Foreign institutional investors (FII) | |||||
| Public | |||||
| Others |
To see the full shareholding pattern of Avanse Financial Services Limited, buy the company report.
Charges & borrowings
| Date | Charge ID | Lender | Amount | Status | Modified or satisfied on |
|---|---|---|---|---|---|
| 07 Aug 2026 | 101383193 | Others | ₹100 Cr | Open | |
| 24 Jul 2026 | 101361791 | Others | ₹500 Cr | Open | |
| 29 Jun 2026 | 101360972 | Others | ₹100 Cr | Open | |
| 26 Mar 2026 | 101269693 | Others | ₹500 Cr | Open | |
| 20 Feb 2026 | 101247808 | Others | ₹109.16 Cr | Open |
To see the full charge records of Avanse Financial Services Limited, buy the company report.
Total charge records: 80 View all charges
Deals & funding
Avanse Financial Services Limited has 18 deals on record (9 funding rounds, 4 rights issues, 4 secondary share transfers), with disclosed funding of ₹2,616.46 Cr; the latest was in March 2024.
Deals on record (5 of 18)
| When | Deal | Amount | Parties |
|---|---|---|---|
| Mar 2020 | Acquisition | ₹764.32 Cr | Buyer: Warburg Pincus Seller: Wadhawan Global Capital Limited , Piramal Finance Limited, Wadhawan Holdings Private Limited |
| Mar 2018 | Rights issue | ₹260.09 Cr | Investors: Wadhawan Global Capital Limited , Piramal Finance Limited |
| Jul 2017 | Rights issue | ₹74.41 Cr | Investors: Wadhawan Global Capital Limited , Piramal Finance Limited, International Finance Corporation |
| Mar 2016 | Rights issue | ₹39.8 Cr | Investors: Wadhawan Global Capital Limited , International Finance Corporation, 2 individuals |
| Mar 2015 | Rights issue | ₹40.76 Cr | Investors: Wadhawan Global Capital Limited , Piramal Finance Limited, Wadhawan Holdings Private Limited |
To see the full deal history of Avanse Financial Services Limited, buy the company report.
Deal records are compiled from filings and public sources; amounts are shown only where the source reported them.
Legal cases
Avanse Financial Services Limited has 5,913 court cases on record: 5,738 filed by Avanse Financial Services, 175 filed against it. 3,362 cases are pending and 2,551 are disposed.
Cases by court
| Court | Cases | Against the company | Pending |
|---|---|---|---|
| District courts | 5,713 | 101 | 3,325 |
| High courts | 187 | 61 | 36 |
| Supreme Court | 11 | 11 | 1 |
| NCLT | 2 | 2 | 0 |
Cases on record (5 of 5,913)
| Court | Type of case | Party | Status |
|---|---|---|---|
| District court, Calcutta, West Bengal | Civil suit | Filed by the company against 32Nd Vistas Private Limited | Pending |
| District court, Gurugram, Haryana | Criminal miscellaneous application | Filed by the company against 32Nd Vistas Pvt. Ltd. | Pending |
| Bombay High Court | Court case (CARBP) | Filed by the company against Manbhari Plastics Private Limited and 2 others | Disposed |
| Bombay High Court | Arbitration matter | Filed by the company against Sidven Engineering Works Pvt Ltd | Disposed |
| District court, North West, Delhi | Court case (Ex. - Award by Arb.) | Filed by the company against Gyandhan Financial Services Private Limited and 1 other | Disposed |
To see the full case history of Avanse Financial Services Limited, buy the company report.
Case records are compiled from court listings and may lag the court's own records. A case filed against a company is not a finding against it.
Credit ratings & regulatory alerts
Avanse Financial Services Limited was last rated by Care on 02 Jun 2022.
| Rating agency | Rated on | Rating |
|---|---|---|
| Care | 02 Jun 2022 |
To see the full credit ratings and regulatory alerts of Avanse Financial Services Limited, buy the company report.
MSME payment delays
Avanse Financial Services Limited has 12 MSME Form 1 returns on record between 2019 and 2024, listing 1,941 overdue payments to 230 micro and small suppliers. Companies must report dues to micro and small suppliers that stay unpaid for more than 45 days in a half-yearly MSME Form 1 return.
Suppliers with reported dues (5 of 230)
| Supplier | Amount due | Due since | Reported on |
|---|---|---|---|
| Royal Orchid Hotels Limited | |||
| Ganit Business Solutions Private Limited | |||
| an individual supplier | |||
| Dreamz Global Education Services LLP | |||
| an individual supplier |
To see the full MSME payment records of Avanse Financial Services Limited, buy the company report.
Individuals and sole proprietors among the suppliers are not named.
Group structure & subsidiaries
Avanse Financial Services has 1 subsidiary company. This group structure data is as of FY 2023. The table lists each entity with its relationship and holding.
| Company Name | CIN | Shares held |
|---|---|---|
| Avanse Global Finance Ifsc Private Limited | U65900GJ2023PTC138316 |
To see the full group structure of Avanse Financial Services Limited, buy the company report.
Employees & EPFO
Avanse Financial Services Limited has a workforce of 723 employees on its EPFO records as of Jan 02, 2025, across 1 active EPFO establishment.
GST
Avanse Financial Services has 12 GST registrations: 12 active. The first 4 active GSTINs are listed below.
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 27AAACA4267A1Z5 | Maharashtra | Active | 01 Jul 2017 |
| 04AAACA4267A1ZD | Chandigarh | Active | 01 Jul 2017 |
| 07AAACA4267A1Z7 | Delhi | Active | 01 Jul 2017 |
| 24AAACA4267A1ZB | Gujarat | Active | 01 Jul 2017 |
To see the full GST registrations and return filing status of Avanse Financial Services Limited, buy the company report.
Recent activity
Avanse Financial Services Limited has 31 board changes on record since 2012: 12 appointments and 19 cessations. The latest: Mohamed Ibrahim Abdulla Abdul Azeez Al Mubarak was appointed as Nominee Director on 21 Jul 2026.
165 earlier events are in the company report.
News
Frequently asked questions
Avanse Financial Services is an active public limited company based in Mumbai, Maharashtra, India. The company works in nbfc, within the financial services industry. It was incorporated on 07 August 1992 (34+ years old) and is registered under CIN U67120MH1992PLC068060.
Avanse Financial Services has 12 current directors and KMP:
- Amit Gainda - Managing Director
- Savita Mahajan - Director
- Ravi Venkatraman - Director
- Narendra Ostawal - Director
- Sunish Sharma - Nominee Director
- Hemant Omprakash Mundra - Nominee Director
- Luca Molinari - Nominee Director
- Rakesh Induprasad Bhatt - Director
- Vijayalakshmi Rajaram Iyer - Director
- Neeraj Swaroop - Director
- Mohamed Ibrahim Abdulla Abdul Azeez Al Mubarak - Nominee Director
- Rajesh Pravinkumar Gandhi - Company Secretary
The latest financial statements of Avanse Financial Services on record with the MCA are for the year ended 31 March 2026. Its last annual general meeting was held on 11 August 2026. Year-wise statements from 2015 are in the company report.
The GSTIN of Avanse Financial Services is 27AAACA4267A1Z5, registered in Maharashtra. The company has 12 GST registrations in all, of which 12 are active. Other active GSTINs include 04AAACA4267A1ZD (Chandigarh), 07AAACA4267A1Z7 (Delhi), 24AAACA4267A1ZB (Gujarat).
The CIN (Corporate Identification Number) of Avanse Financial Services is U67120MH1992PLC068060. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Avanse Financial Services has 5,913 court cases on record: 5,738 filed by the company and 175 filed against it. 3,362 are pending. Most are in the district courts.
Avanse Financial Services was incorporated on 07 August 1992, making it 34+ years old. It is registered with the Registrar of Companies, Mumbai.
Avanse Financial Services has 18 deals on record (9 funding rounds, 4 rights issues, 4 secondary share transfers), with disclosed funding of ₹2,616.46 Cr; the latest was in March 2024.
Mohamed Ibrahim Abdulla Abdul Azeez Al Mubarak was appointed as Nominee Director on 21 Jul 2026. Vikrant Virendra Gandhi ceased to be CFO on 04 Mar 2026. Rakesh Induprasad Bhatt was appointed as Director on 08 Mar 2025. Avanse Financial Services has 31 board changes on record in total.
Avanse Financial Services has 12 MSME Form 1 returns on record between 2019 and 2024, listing 1,941 overdue payments to 230 micro and small suppliers. The latest return was filed on 24 Apr 2024.
Avanse Financial Services can be reached through the website avanse.com. Its registered office is in Mumbai, Maharashtra, India.