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Decoding Auxilo’s latest funding round, captable and valuation

EntrackrEntrackr · 11m ago
Decoding Auxilo’s latest funding round, captable and valuation
Medial

Education-focused non banking financial corporation (NBFC) Auxilo recently announced its Rs 279 crore or $33.6 million equity funding in LeapFrog through its investment vehicle Jade Inclusion Ltd. Apart from the names of the investors, the company did not disclose any details. Entrackr has gone through its regulatory filings to decode details such as round break up, shareholding, and current valuation. The board at Auxilo has passed a special resolution to allot 4,80,78,529 compulsory convertible preference shares (CCPs) at an issue price of Rs 58.04 each to raise Rs 279 crore or $33.6 million, its regulatory filing sourced from the Registrar of Companies shows. LeapFrog led the round with Rs 250 crore while Trifecta and Xponentia Opportunities Fund II pumped in Rs 14.25 crore and Rs 14.79 crore. respectively. According to the filings, the company will use the proceeds to meet its future capital requirements arising out of the growth of business and assets. As per TheKredible estimates, the company has been valued at around Rs 3124 crore or $376 million post-allotment. Following the proceeds, Balrampur Chini Mills (owned by Vivek Saraogi) and Elme Advisors will be the largest external stakeholders with 30.7% each followed by Tata Capital and ICICI Bank which hold 09.61% and 8.49% respectively. Check TheKredible for the complete shareholding. Auxilo has raised around $145 million across equity and debt since its inception including its $57 million funding round led by Tata Capital Growth in July last year. Soon after the equity funding, the company also raised $12 million debt led by Dezerv Securities early this week. Entrackr exclusively reported the development. Established in 2017, Auxilo offers student loans for pursuing education within India or abroad. It also extends loans to educational institutions for infrastructure and working capital requirements. The New Delhi-based company demonstrated strong financial performance, achieving over 2X year-on-year growth to reach Rs 174 crore in FY23. Moreover, its profits doubled to Rs 26 crore in FY23. The company is yet to file its annual results for FY24. LeapFrog mainly focuses on financial, health, and climate tech startups. Apart from Auxilo, the fund led Battery Smart’s $65 million Series B round and $48 million round of Electronica Finance.

Exclusive: Education finance firm Auxilo raises $12 Mn more in debt

EntrackrEntrackr · 11m ago
Exclusive: Education finance firm Auxilo raises $12 Mn more in debt
Medial

Education-focused non-banking financial corporation (NBFC) Auxilo has secured Rs 100 crore (approximately $12 million) in a debt financing round. The board at Auxilo has issued non-convertible debentures (NCDs) at an issue price of Rs 1,00,000 each to raise Rs 100 crore ($12 million), its regulatory filing accessed from the Registrar of Companies (RoC) shows. Dezerv Securities pumped in Rs 26.39 crore while MAS Financial Services and CredAvenue Securities (Yubi) participated with Rs 25 crore each. The balance amount will be released by the investors soon. The NCDs issued to MAS Financial and CredAvenue (Yubi) have a tenure of 36 months with an interest rate of 9.65%, while the debentures issued to Dezerv have a tenure of 29 months with an annual coupon rate of 9.90%. The development coincides with Auxilo’s $33.6 million round led by private equity firm LeapFrog Investments. As per Auxilo, LeapFrog invested $30 million while Trifecta Leaders Fund-I and Xponentia Opportunities Fund-II pumped in the remaining capital. The current debt funding appears to be separate from the recent announcement. Auxilo has raised around $145 million across equity and debt since its inception including a $57 million funding round led by Tata Capital Growth in July last year. Established in 2017, Auxilo offers student loans for pursuing education within India or abroad. It also extends loans to educational institutions for infrastructure and working capital requirements. Since its inception, Auxilo claims to have provided education loans to over 12,000 students, across more than 1,100 universities and education institutes in over 30 countries. In the next 5 years, it aims to disburse Rs 25,000 crore worth loan to more than 150,000 students in India and overseas. The New Delhi-based company demonstrated strong financial performance, achieving over 2X year-on-year growth to reach Rs 174 crore in FY23. Moreover, its profits doubled to Rs 26 crore in FY23. The company is yet to file its annual results for FY24.

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