Aavas Financers to raise Rs. 100 crore by way of NCDs

The Executive Committee of the Board of Jaipur-headquartered Aavas Financiers Ltd has approved the issuance of Non-Convertible Debentures (NCDs) aggregating up to an amount of Rs.100 crore on a private placement basis.The NCDs, having a face value of Rs. 10 lakh each are rated, listed, secured and redeemed, the company said in a regulatory filing.

Aavas Financiers, formerly known as Au Housing Finance, is primarily engaged in providing housing loans to customers belonging to low and middle-income segments in semi-urban and rural areas.

As of September-end 2020, the housing finance company had assets under management of Rs. 8,367 crore. It currently has operations in 11 states namely Rajasthan, Gujarat, Maharashtra, Madhya Pradesh, Delhi, Uttar Pradesh, Chhattisgarh Haryana, Uttarakhand, Himachal Pradesh and Punjab.