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Aavas Financiers

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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 with the name of "Au Housing Finance Private Limited". 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 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 March 31, 2022, Aavas has 314 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.{{cite web}}: CS1 maint: url-status (link)
  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.{{cite web}}: CS1 maint: url-status (link)
  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.{{cite news}}: CS1 maint: url-status (link)
  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 audited financial results for the quarter and year ended March 31, 2022 published in Financial Express Epaper 06 May 2022". Financial Express. Retrieved 6 May 2022.
  24. ^ "Aavas Financiers Limited: [ICRA]AA-(Stable) rating assigned". 19 March 2021.{{cite news}}: CS1 maint: url-status (link)
  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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