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Aavas Financiers

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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]

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

History

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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 Sachinder Bhinder as the MD and 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 June 30, 2024, Aavas has 371 branches operating in 13 states of India.[23][24]

Awards

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  • In March 2024, Aavas was recognised as Best BFSI Brand at the ET Best BFSI Brands Conclave.[25]
  • In December 2023, Aavas was recognized in the Silver Category at ‘3rd ICAI Sustainability Reporting Awards 2022-23’[26]
  • In March 2023, Aavas was recognised as Best BFSI Brand at the ET Best BFSI Brands Conclave.[27]
  • In August 2022, won Best NBFC award for the year 2020–21 at FE India's Best Banks Awards.[28]
  • In March 2022, Aavas was recognized by the Great Place to Work® Institute as among the best companies to work in India.[29]

Stock Exchange Listings

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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.[30][31]

References

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  1. ^ "Aavas Financiers to raise ₹100 crore through NCDs". @businessline. 25 December 2020. 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. ^ "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.
  7. ^ "MarketWatch Aavas Financiers Profile". www.marketwatch.com. 3 May 2023. Retrieved 5 March 2023.
  8. ^ "Aavas Financiers Raises Rs 520 Cr From 34 Anchor Investors, IPO Opens On September 25". Moneycontrol. 24 September 2018. 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. 24 September 2018. 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. 31 March 2020. 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 ended June 30, 2024 published in Financial Express Epaper 26 July 2024". Financial Express. Retrieved 26 July 2024.
  24. ^ "Aavas Financiers Limited: [ICRA]AA-(Stable) rating assigned". 19 March 2021.
  25. ^ "Aavas Financiers Recognized as Best BFSI Brand at the ET Best BFSI Brands Conclave". EquityBulls.
  26. ^ "Aavas Financiers receives award in Silver Category at '3rd ICAI Sustainability Reporting Awards 2022-23'". MoneyWorks4Me.
  27. ^ "Aavas Financiers Recognized as Best BFSI Brand at the ET Best BFSI Brands Conclave". ThePrint. Retrieved 22 May 2023.
  28. ^ "FE India's Best Bank Awards: Take a look at Nirmala Sitharaman along with other winners from the ceremony – PHOTOS". Financialexpress. 28 August 2022. Retrieved 15 July 2024.
  29. ^ "Aavas Financiers Ltd is now Great Place to Work-Certified". ThePrint. Retrieved 29 March 2022.
  30. ^ "Aavas Financiers Listing Information - The Economic Times". economictimes.indiatimes.com. Retrieved 19 March 2021.
  31. ^ "Stock Share Price | Get Quote | BSE". www.bseindia.com. Retrieved 19 March 2021.
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