New Delhi, February 14 GyanDhan, an education financing platform that recently got an NBFC licence, is looking at a disbursal of ₹2,300 crore over the next one year. While ₹2,000 crore would be facilitated through its network of banks and other non-banking financial institutions, another ₹300 crore is expected to be disbursed though its NBFC arm.
Most of the disbursal are expected in the study abroad category.
Nearly 90 per cent of GyanDhan’s loans are in the PG and Master’s programs; while the remaining 10 per cent is for the under-graduate level courses.
So far, the platform has facilitated ₹1,600 crore worth of loans; of which ₹700 crore is expected by FY22-end.
While domestic education loans vary between three months to 3 years; study abroad loans are of longer tenure, usually varying for a period of seven years.
For most NBFCs, the gross NPAs are in the range of 0.1 per cent or 10 basis points. On the other hand, the Union Government during a response to the Parliament in March 2021 said that nearly 9.55 per cent of the education loans extended by the public sector banks were categorized as non-performing assets as on 31 December, 2020.
“While lending through our NBFC is quite small at the moment, say at ₹50 crore, we want to ramp it up six fold to ₹300 crore by FY-23 end. The upcoming fall season (September – December) period will be a crucial time in terms of disbursement push. On the domestic short term loans, we are working on a flexi product, which is currently in the pilot stages. The products will allow a three-month moratorium before repayment starts,” Ankit Mehra, Co-founder and CEO, GyanDhan, told BusinessLine.
According to him, the company is in talks with potential investors for a probable fund raise of $20 million (apprx ₹150 crore), combined equity and debt. Fund raise is likely by April–May.
The company had previously raised less than $3 million through private placement (NCDs). It had also raised funds around February 2020 at the time it was applying for a NBFC licence.
Angel funding came around 2016.