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The company issued its IPO in October 2018.<ref>{{Cite web|title=Aavas Financiers Raises Rs 520 Cr From 34 Anchor Investors, IPO Opens On September 25|url=https://www.moneycontrol.com/news/business/markets/aavas-financiers-raises-rs-520-cr-from-34-anchor-investors-ipo-opens-on-september-25-2982601.html|url-status=live|access-date=2021-03-19|website=Moneycontrol|archive-url=https://web.archive.org/web/20180924190506/https://www.moneycontrol.com/news/business/markets/aavas-financiers-raises-rs-520-cr-from-34-anchor-investors-ipo-opens-on-september-25-2982601.html |archive-date=2018-09-24 }}</ref><ref>{{Cite web|title=Aavas Financiers IPO Review - Aavas Financiers IPO Dates, Issue Price, Subscription and Allotment Status - The Economic Times|url=https://economictimes.indiatimes.com/aavas-financiers-ltd/ipos/companyid-35834.cms|url-status=live|access-date=2021-03-19|website=economictimes.indiatimes.com|archive-url=https://web.archive.org/web/20200529181302/https://economictimes.indiatimes.com/aavas-financiers-ltd/ipos/companyid-35834.cms |archive-date=2020-05-29 }}</ref><ref>{{Cite web|title=Aavas Financiers' IPO: Here's All You Need To Know|url=https://www.bloombergquint.com/ipos/aavas-financiers-ipo-heres-all-you-need-to-know|access-date=2021-03-19|website=BloombergQuint|language=en}}</ref> Shortly after issuing IPO [[CDC Group|CDC group]], [[United Kingdom]] has invested Rs. 200 Crore in Aavas.<ref>{{Cite news|agency=Press Trust of India|date=2018-12-20|title=Aavas raises Rs 200 cr from UK's CDC group|work=Business Standard India|url=https://www.business-standard.com/article/pti-stories/aavas-raises-rs-200-cr-from-uk-s-cdc-group-118122001019_1.html|access-date=2021-03-19}}</ref><ref>{{Cite web|last=www.ETRealty.com|title=Aavas Financiers raises Rs 200 crore from UK's CDC Group - ET RealEstate|url=https://realty.economictimes.indiatimes.com/news/allied-industries/aavas-financiers-raises-rs-200-crore-from-uks-cdc-group/67186697|access-date=2021-03-19|website=ETRealty.com|language=en}}</ref>
The company issued its IPO in October 2018.<ref>{{Cite web|title=Aavas Financiers Raises Rs 520 Cr From 34 Anchor Investors, IPO Opens On September 25|url=https://www.moneycontrol.com/news/business/markets/aavas-financiers-raises-rs-520-cr-from-34-anchor-investors-ipo-opens-on-september-25-2982601.html|url-status=live|access-date=2021-03-19|website=Moneycontrol|archive-url=https://web.archive.org/web/20180924190506/https://www.moneycontrol.com/news/business/markets/aavas-financiers-raises-rs-520-cr-from-34-anchor-investors-ipo-opens-on-september-25-2982601.html |archive-date=2018-09-24 }}</ref><ref>{{Cite web|title=Aavas Financiers IPO Review - Aavas Financiers IPO Dates, Issue Price, Subscription and Allotment Status - The Economic Times|url=https://economictimes.indiatimes.com/aavas-financiers-ltd/ipos/companyid-35834.cms|url-status=live|access-date=2021-03-19|website=economictimes.indiatimes.com|archive-url=https://web.archive.org/web/20200529181302/https://economictimes.indiatimes.com/aavas-financiers-ltd/ipos/companyid-35834.cms |archive-date=2020-05-29 }}</ref><ref>{{Cite web|title=Aavas Financiers' IPO: Here's All You Need To Know|url=https://www.bloombergquint.com/ipos/aavas-financiers-ipo-heres-all-you-need-to-know|access-date=2021-03-19|website=BloombergQuint|language=en}}</ref> Shortly after issuing IPO [[CDC Group|CDC group]], [[United Kingdom]] has invested Rs. 200 Crore in Aavas.<ref>{{Cite news|agency=Press Trust of India|date=2018-12-20|title=Aavas raises Rs 200 cr from UK's CDC group|work=Business Standard India|url=https://www.business-standard.com/article/pti-stories/aavas-raises-rs-200-cr-from-uk-s-cdc-group-118122001019_1.html|access-date=2021-03-19}}</ref><ref>{{Cite web|last=www.ETRealty.com|title=Aavas Financiers raises Rs 200 crore from UK's CDC Group - ET RealEstate|url=https://realty.economictimes.indiatimes.com/news/allied-industries/aavas-financiers-raises-rs-200-crore-from-uks-cdc-group/67186697|access-date=2021-03-19|website=ETRealty.com|language=en}}</ref>


In September 2019, the company received Rs 345 crore investment from [[International Finance Corporation]], a member of the [[World Bank Group]].<ref>{{Cite news|last=ANI|date=2019-09-17|title=Aavas Financiers raises Rs 345 crore from IFC through NCDs|work=Business Standard India|url=https://www.business-standard.com/article/news-ani/aavas-financiers-raises-rs-345-crore-from-ifc-through-ncds-119091700345_1.html|access-date=2021-03-19}}</ref><ref>{{Cite web|title=Affordable housing financier Aavas gets Rs 345 cr funding from IFC|url=https://www.outlookindia.com/newsscroll/affordable-housing-financier-aavas-gets-rs-345-cr-funding-from-ifc/1620209|access-date=2021-03-19|website=Outlook India}}</ref><ref>{{Cite web|last=www.ETRealty.com|title=IFC invests Rs 345 crore in Aavas Financiers - ET RealEstate|url=https://realty.economictimes.indiatimes.com/news/allied-industries/ifc-invests-rs-345-crore-in-aavas-financiers/71159825|access-date=2021-03-19|website=ETRealty.com|language=en}}</ref> In March 2020, Aavas signed an agreement with [[Asian Development Bank]] for receiving loan amount of $60 million specially targeting towards the 'women in lower income group'.<ref>{{Cite web|title=Affordable housing firm Aavas gets $60m ADB loan|url=https://www.thehindubusinessline.com/news/real-estate/affordable-housing-firm-aavas-gets-60m-adb-loan/article31216995.ece|url-status=live|access-date=2021-03-19|website=@businessline|language=en|archive-url=https://web.archive.org/web/20200402091117/https://www.thehindubusinessline.com/news/real-estate/affordable-housing-firm-aavas-gets-60m-adb-loan/article31216995.ece |archive-date=2020-04-02 }}</ref><ref>{{Cite news|last=Market|first=Capital|date=2020-03-30|title=Aavas Financiers gains on securing ADB loan to boost housing finance in India|work=Business Standard India|url=https://www.business-standard.com/article/news-cm/aavas-financiers-gains-on-securing-adb-loan-to-boost-housing-finance-in-india-120033001134_1.html|access-date=2021-03-19}}</ref><ref>{{Cite web|date=2021-03-19|title=Kedaara-backed Aavas Financiers to raise loan from Asian Development Bank|url=https://www.vccircle.com/kedaara-backed-aavas-financiers-to-raise-loan-from-asian-development-bank|url-status=live|access-date=2021-02-18|website=VCCircle|language=en-US|archive-url=https://web.archive.org/web/20201127080636/https://www.vccircle.com/kedaara-backed-aavas-financiers-to-raise-loan-from-asian-development-bank |archive-date=2020-11-27 }}</ref> In December 2020, to promote the concept of Green Housing, [[International Finance Corporation]] signed an agreement with the company.<ref>{{Cite web|last=www.ETEnergyworld.com|title=IFC, Aavas Financiers sign pact for affordable green housing finance for low-income borrowers - ET EnergyWorld|url=https://energy.economictimes.indiatimes.com/news/renewable/ifc-aavas-financiers-sign-pact-for-affordable-green-housing-finance-for-low-income-borrowers/79604732|url-status=live|access-date=2021-03-19|website=ETEnergyworld.com|language=en|archive-url=https://web.archive.org/web/20201207120052/https://energy.economictimes.indiatimes.com/news/renewable/ifc-aavas-financiers-sign-pact-for-affordable-green-housing-finance-for-low-income-borrowers/79604732 |archive-date=2020-12-07 }}</ref><ref>{{Cite web|date=2021-03-19|title=New project to help catalyse affordable green housing finance in India|url=https://www.energylivenews.com/2020/12/04/new-project-to-help-catalyse-affordable-green-housing-finance-in-india/|url-status=live|access-date=2021-02-18|website=Energy Live News|language=en-US|archive-url=https://web.archive.org/web/20201204153938/https://www.energylivenews.com/2020/12/04/new-project-to-help-catalyse-affordable-green-housing-finance-in-india/ |archive-date=2020-12-04 }}</ref><ref>{{Cite web|last=admin|date=2021-03-19|title=IFC signs agreement for affordable green housing in India|url=https://greentechlead.com/green-building/ifc-signs-agreement-for-affordable-green-housing-in-india-36727|url-status=live|access-date=2021-02-18|website=GreentechLead|language=en-US|archive-url=https://web.archive.org/web/20201203055408/https://greentechlead.com/green-building/ifc-signs-agreement-for-affordable-green-housing-in-india-36727 |archive-date=2020-12-03 }}</ref><ref>{{Cite book|last=Sharma|first=Sandeep Ravidutt|url=https://books.google.com/books?id=ZC8PEAAAQBAJ&dq=Aavas+Financiers&pg=PR7|title=ProjectX India: 15th December 2020 {{!}} Tracking Multisector Projects from India|date=2021-03-19|publisher=Sandeep Ravidutt Sharma|language=en}}</ref> As of March 31, 2022, Aavas has 314 branches operating in 13 states of India.<ref>{{Cite web|title=Statement of consolidated audited financial results for the quarter and year ended March 31, 2022 published in Financial Express Epaper 06 May 2022 |url=https://epaper.financialexpress.com/m5/3465049/Delhi/May-06-2022#page/22/1|access-date=2022-05-06|website=Financial Express|language=en}}</ref><ref>{{Cite news|date=2021-03-19|title=Aavas Financiers Limited: [ICRA]AA-(Stable) rating assigned|url=https://www.icra.in/Rationale/ShowRationaleReport/?Id=99007#:~:text=The%20company%20had%20259%20branches,Uttarakhand%2C%20Punjab%20and%20Himachal%20Pradesh.}}</ref>
In September 2019, the company received Rs 345 crore investment from [[International Finance Corporation]], a member of the [[World Bank Group]].<ref>{{Cite news|last=ANI|date=2019-09-17|title=Aavas Financiers raises Rs 345 crore from IFC through NCDs|work=Business Standard India|url=https://www.business-standard.com/article/news-ani/aavas-financiers-raises-rs-345-crore-from-ifc-through-ncds-119091700345_1.html|access-date=2021-03-19}}</ref><ref>{{Cite web|title=Affordable housing financier Aavas gets Rs 345 cr funding from IFC|url=https://www.outlookindia.com/newsscroll/affordable-housing-financier-aavas-gets-rs-345-cr-funding-from-ifc/1620209|access-date=2021-03-19|website=Outlook India}}</ref><ref>{{Cite web|last=www.ETRealty.com|title=IFC invests Rs 345 crore in Aavas Financiers - ET RealEstate|url=https://realty.economictimes.indiatimes.com/news/allied-industries/ifc-invests-rs-345-crore-in-aavas-financiers/71159825|access-date=2021-03-19|website=ETRealty.com|language=en}}</ref> In March 2020, Aavas signed an agreement with [[Asian Development Bank]] for receiving loan amount of $60 million specially targeting towards the 'women in lower income group'.<ref>{{Cite web|title=Affordable housing firm Aavas gets $60m ADB loan|url=https://www.thehindubusinessline.com/news/real-estate/affordable-housing-firm-aavas-gets-60m-adb-loan/article31216995.ece|url-status=live|access-date=2021-03-19|website=@businessline|language=en|archive-url=https://web.archive.org/web/20200402091117/https://www.thehindubusinessline.com/news/real-estate/affordable-housing-firm-aavas-gets-60m-adb-loan/article31216995.ece |archive-date=2020-04-02 }}</ref><ref>{{Cite news|last=Market|first=Capital|date=2020-03-30|title=Aavas Financiers gains on securing ADB loan to boost housing finance in India|work=Business Standard India|url=https://www.business-standard.com/article/news-cm/aavas-financiers-gains-on-securing-adb-loan-to-boost-housing-finance-in-india-120033001134_1.html|access-date=2021-03-19}}</ref><ref>{{Cite web|date=2021-03-19|title=Kedaara-backed Aavas Financiers to raise loan from Asian Development Bank|url=https://www.vccircle.com/kedaara-backed-aavas-financiers-to-raise-loan-from-asian-development-bank|url-status=live|access-date=2021-02-18|website=VCCircle|language=en-US|archive-url=https://web.archive.org/web/20201127080636/https://www.vccircle.com/kedaara-backed-aavas-financiers-to-raise-loan-from-asian-development-bank |archive-date=2020-11-27 }}</ref> In December 2020, to promote the concept of Green Housing, [[International Finance Corporation]] signed an agreement with the company.<ref>{{Cite web|last=www.ETEnergyworld.com|title=IFC, Aavas Financiers sign pact for affordable green housing finance for low-income borrowers - ET EnergyWorld|url=https://energy.economictimes.indiatimes.com/news/renewable/ifc-aavas-financiers-sign-pact-for-affordable-green-housing-finance-for-low-income-borrowers/79604732|url-status=live|access-date=2021-03-19|website=ETEnergyworld.com|language=en|archive-url=https://web.archive.org/web/20201207120052/https://energy.economictimes.indiatimes.com/news/renewable/ifc-aavas-financiers-sign-pact-for-affordable-green-housing-finance-for-low-income-borrowers/79604732 |archive-date=2020-12-07 }}</ref><ref>{{Cite web|date=2021-03-19|title=New project to help catalyse affordable green housing finance in India|url=https://www.energylivenews.com/2020/12/04/new-project-to-help-catalyse-affordable-green-housing-finance-in-india/|url-status=live|access-date=2021-02-18|website=Energy Live News|language=en-US|archive-url=https://web.archive.org/web/20201204153938/https://www.energylivenews.com/2020/12/04/new-project-to-help-catalyse-affordable-green-housing-finance-in-india/ |archive-date=2020-12-04 }}</ref><ref>{{Cite web|last=admin|date=2021-03-19|title=IFC signs agreement for affordable green housing in India|url=https://greentechlead.com/green-building/ifc-signs-agreement-for-affordable-green-housing-in-india-36727|url-status=live|access-date=2021-02-18|website=GreentechLead|language=en-US|archive-url=https://web.archive.org/web/20201203055408/https://greentechlead.com/green-building/ifc-signs-agreement-for-affordable-green-housing-in-india-36727 |archive-date=2020-12-03 }}</ref><ref>{{Cite book|last=Sharma|first=Sandeep Ravidutt|url=https://books.google.com/books?id=ZC8PEAAAQBAJ&dq=Aavas+Financiers&pg=PR7|title=ProjectX India: 15th December 2020 {{!}} Tracking Multisector Projects from India|date=2021-03-19|publisher=Sandeep Ravidutt Sharma|language=en}}</ref> As of December 31, 2022, Aavas has 321 branches operating in 13 states of India.<ref>{{Cite web|title=Statement of consolidated unaudited financial results for the quarter and nine months ended March 31, 2022 published in Financial Express Epaper 03 February 2023 |url=https://epaper.financialexpress.com/m5/3655737/Delhi/February-3-2023#page/5/1|access-date=2023-02-03|website=Financial Express|language=en}}</ref><ref>{{Cite news|date=2021-03-19|title=Aavas Financiers Limited: [ICRA]AA-(Stable) rating assigned|url=https://www.icra.in/Rationale/ShowRationaleReport/?Id=99007#:~:text=The%20company%20had%20259%20branches,Uttarakhand%2C%20Punjab%20and%20Himachal%20Pradesh.}}</ref>


In March 2022, Aavas was recognized by the Great Place to Work® Institute as among the best companies to work in India.<ref>{{Cite news|title=Aavas Financiers Ltd is now Great Place to Work-Certified|url=https://theprint.in/ani-press-releases/aavas-financiers-ltd-is-now-great-place-to-work-certified/893078/|access-date=2022-03-29|website=ThePrint|language=en}}</ref>
In March 2022, Aavas was recognized by the Great Place to Work® Institute as among the best companies to work in India.<ref>{{Cite news|title=Aavas Financiers Ltd is now Great Place to Work-Certified|url=https://theprint.in/ani-press-releases/aavas-financiers-ltd-is-now-great-place-to-work-certified/893078/|access-date=2022-03-29|website=ThePrint|language=en}}</ref>

Revision as of 13:41, 19 April 2023

Aavas Financiers Limited
Company typePublic
ISININE216P01012
IndustryFinancial services
FoundedFebruary 2011
Headquarters
Jaipur
,
India
Area served
India
Key people
  • Sushil Kumar Agarwal
    (Managing Director)
  • Sachinder Bhinder (CEO)
  • Ghanshyam Rawat(CFO)
Websitewww.aavas.in

Aavas Financiers, also known as Aavas, is a Jaipur based housing finance company known for providing home loans in the rural and semi-urban locations of India.[1][2] Aavas is registered with National Housing Bank as a Housing Finance Company and was granted the license in August 2011.[3][4]

History

Aavas was incorporated in February 2011. It formally started its operations in March 2012.[5] The name of the company was changed to "Aavas Financiers Limited" in March, 2017.[6] Presently the company is headed by Sushil Kumar Agarwal as the MD and Sachinder Bhinder as the CEO.[7]

The company issued its IPO in October 2018.[8][9][10] Shortly after issuing IPO CDC group, United Kingdom has invested Rs. 200 Crore in Aavas.[11][12]

In September 2019, the company received Rs 345 crore investment from International Finance Corporation, a member of the World Bank Group.[13][14][15] In March 2020, Aavas signed an agreement with Asian Development Bank for receiving loan amount of $60 million specially targeting towards the 'women in lower income group'.[16][17][18] In December 2020, to promote the concept of Green Housing, International Finance Corporation signed an agreement with the company.[19][20][21][22] As of December 31, 2022, Aavas has 321 branches operating in 13 states of India.[23][24]

In March 2022, Aavas was recognized by the Great Place to Work® Institute as among the best companies to work in India.[25]

In August 2022, won Best NBFC award for the year 2020–21 at FE India's Best Banks Awards.[26]

Stock Exchange Listings

The equity shares of Aavas are listed on Bombay Stock Exchange where it is a constituent of the BSE 150 Midcap, and the National Stock Exchange of India where it is a constituent of Nifty Midcap 150.[27][28]

References

  1. ^ "Aavas Financiers to raise ₹100 crore through NCDs". @businessline. Archived from the original on 25 December 2020. Retrieved 19 March 2021.
  2. ^ Baid, Gautam (19 March 2021). The Joys of Compounding: The Passionate Pursuit of Lifelong Learning, Revised and Updated. Columbia University Press. ISBN 978-0-231-55211-0.
  3. ^ "AAVAS.IN | Aavas Financiers Ltd. Company Profile & Executives - WSJ". www.wsj.com. Retrieved 19 March 2021.
  4. ^ "Aavas Financiers Ltd - Company Profile and News". Bloomberg.com. Retrieved 19 March 2021.
  5. ^ "IFC to invest $40 mn in Aavas Financiers | M&A Critique". 9 May 2017. Retrieved 19 March 2021.
  6. ^ Limited, Aavas Financiers. "Aavas Financiers Ltd - Home Loan, Housing Loan Finance Company in India". www.aavas.in. Archived from the original on 19 December 2018. Retrieved 19 March 2021. {{cite web}}: |last= has generic name (help)
  7. ^ "Aavas Financier's CEO Sushil Kumar Agarwal speaks on gratifying Q4 performance". www.timesnownews.com. Retrieved 19 March 2021.
  8. ^ "Aavas Financiers Raises Rs 520 Cr From 34 Anchor Investors, IPO Opens On September 25". Moneycontrol. Archived from the original on 24 September 2018. Retrieved 19 March 2021.
  9. ^ "Aavas Financiers IPO Review - Aavas Financiers IPO Dates, Issue Price, Subscription and Allotment Status - The Economic Times". economictimes.indiatimes.com. Archived from the original on 29 May 2020. Retrieved 19 March 2021.
  10. ^ "Aavas Financiers' IPO: Here's All You Need To Know". BloombergQuint. Retrieved 19 March 2021.
  11. ^ "Aavas raises Rs 200 cr from UK's CDC group". Business Standard India. Press Trust of India. 20 December 2018. Retrieved 19 March 2021.
  12. ^ www.ETRealty.com. "Aavas Financiers raises Rs 200 crore from UK's CDC Group - ET RealEstate". ETRealty.com. Retrieved 19 March 2021.
  13. ^ ANI (17 September 2019). "Aavas Financiers raises Rs 345 crore from IFC through NCDs". Business Standard India. Retrieved 19 March 2021.
  14. ^ "Affordable housing financier Aavas gets Rs 345 cr funding from IFC". Outlook India. Retrieved 19 March 2021.
  15. ^ www.ETRealty.com. "IFC invests Rs 345 crore in Aavas Financiers - ET RealEstate". ETRealty.com. Retrieved 19 March 2021.
  16. ^ "Affordable housing firm Aavas gets $60m ADB loan". @businessline. Archived from the original on 2 April 2020. Retrieved 19 March 2021.
  17. ^ Market, Capital (30 March 2020). "Aavas Financiers gains on securing ADB loan to boost housing finance in India". Business Standard India. Retrieved 19 March 2021.
  18. ^ "Kedaara-backed Aavas Financiers to raise loan from Asian Development Bank". VCCircle. 19 March 2021. Archived from the original on 27 November 2020. Retrieved 18 February 2021.
  19. ^ www.ETEnergyworld.com. "IFC, Aavas Financiers sign pact for affordable green housing finance for low-income borrowers - ET EnergyWorld". ETEnergyworld.com. Archived from the original on 7 December 2020. Retrieved 19 March 2021.
  20. ^ "New project to help catalyse affordable green housing finance in India". Energy Live News. 19 March 2021. Archived from the original on 4 December 2020. Retrieved 18 February 2021.
  21. ^ admin (19 March 2021). "IFC signs agreement for affordable green housing in India". GreentechLead. Archived from the original on 3 December 2020. Retrieved 18 February 2021.
  22. ^ Sharma, Sandeep Ravidutt (19 March 2021). ProjectX India: 15th December 2020 | Tracking Multisector Projects from India. Sandeep Ravidutt Sharma.
  23. ^ "Statement of consolidated unaudited financial results for the quarter and nine months ended March 31, 2022 published in Financial Express Epaper 03 February 2023". Financial Express. Retrieved 3 February 2023.
  24. ^ "Aavas Financiers Limited: [ICRA]AA-(Stable) rating assigned". 19 March 2021.
  25. ^ "Aavas Financiers Ltd is now Great Place to Work-Certified". ThePrint. Retrieved 29 March 2022.
  26. ^ "Aavas Financiers Ltd wins the Best NBFC Award at FE India's Best Banks Award". Hindustan Times. Retrieved 31 August 2022.
  27. ^ "Aavas Financiers Listing Information - The Economic Times". economictimes.indiatimes.com. Retrieved 19 March 2021.
  28. ^ "Stock Share Price | Get Quote | BSE". www.bseindia.com. Retrieved 19 March 2021.
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