NBFCs in school finance scout for funds

Delhi-based Indian School Finance Company and Bengaluru-based Varthana are planning to raise fund

A couple of non-banking finance companies (NBFCs), specialised in lending to private schools, are planning to raise fresh equity capital. These include venture capital (VC)-backed companies such as Delhi-based Indian School Finance Company and Bengaluru-based Varthana. 
 
Both of these companies are planning to raise $50-60 million each, said two people familiar with the development. While Kotak Mahindra is helping Varthana, Deloitte is running the book for Indian School Finance Company. The founders of these companies could not be reached for comments.
 
‘‘It’s a huge market. There are 200,000 private schools in India. Banks don’t lend them, but many