Aavas Financiers Limited Announces Issue of Rated, Listed, Senior, Secured, Redeemable, Non-Convertible Debentures of INR 1.5 Billion
June 28, 2023 at 09:21 am EDT
Share
Aavas Financiers Limited at its meeting held on June 28, 2023 has pursuant to the authority entrusted by the Board of Directors and within the limits as approved by the Members of the Company vide Special Resolution passed at the 12th Annual General Meeting held on July 21, 2022 inter- alia approved the issuance of rated, listed, senior, secured, redeemable, Non-Convertible Debentures ("NCDs") having a face value of INR 100,000 each, aggregating up to an amount of INR 1,500.0 million on a Private Placement basis, in accordance with the provisions of Companies Act, 2013, SEBI LODR Regulations, Securities and Exchange Board of India (Issue and Listing of Non- Convertible Securities) Regulations, 2021 and other applicable Regulations.
Aavas Financiers Limited is an India-based retail, affordable housing finance company, primarily serving low- and middle-income self-employed customers in semi-urban and rural areas. The Company's product offering consists of home loans for the purchase or construction of residential properties, and for the extension and repair of existing housing units, loan against property and micro, small and medium enterprises loan (MSME) loans. Its Website has a portal for online application of loans which offers services like branch locator, home loan equated monthly instalment calculator, details on specific products like construction loans, MSME loans and others. Customers also have the option to apply for loans through Aavas Loan Mobile App. It operates in over 13 states with a total of 371 branches. It operates in various states including Rajasthan, Maharashtra, Gujarat, Madhya Pradesh, Haryana, Uttar Pradesh, Chhattisgarh, Uttarakhand, Punjab, Himachal Pradesh, Delhi, Odisha and Karnataka.