Avendus Finance Lends Structured Debt of INR 550 mn to Rao Edusolutions Private Limited (Raoiit).

RaoIIT, established by Dr. B.V. Rao, a renowned technocrat and outstanding professor of Chemistry, is an educational coaching services provider, operating a chain of coaching centres for IIT and Medical aspirants across India. The company has a network of 27 centres spread across 4 states i.e. Maharashtra, Delhi, Gujrat and Rajasthan with more than 5500 students. It currently provides training for engineering, medical and prefoundation (6th to 10th standard) examinations through classroom coaching, offline/online content support and virtual classroom modes.

Shubham Housing Development Finance Company aims to provide affordable housing finance to families with informal incomes and those outside the purview of formal credit structures, to drive financial inclusion for a better future. The company believes that every person in India should be able to buy their own home, and that informal incomes should not be a barrier to providing the credit they need. Established in 2011, Shubham was one of the first lenders in India to incorporate an innovative customised credit program for each customer instead of the traditional document based underwriting. Shubham’s unique approach in credit decision making incorporates comprehensive set of sources for income verification outside the traditional paper based forms to assess the affordability

PremjiInvest was formed in 2006 to invest on behalf of Azim Premji, Chairman and Founder of Wipro, with assets under management of ~$3-4b across Public and Private markets.