Avanse Financial Services, a prominent non-bank lender focused on education, has received regulatory approval from SEBI for its Rs 3,500 crore initial public offering (IPO). The company, positioned as the second-largest education-focused NBFC by assets, offers education loans for domestic and overseas studies, growth capital for educational institutions, and collateral-backed financing for private educational entities in India. The IPO will consist of Rs 1,000 crore in fresh share issuance by Avanse and up to Rs 2,500 crore from existing shareholders and promoters.