Aavas Financiers Limited has informed the Exchange regarding Outcome of Executive Committee Meeting of Board of Directors held on Jun 18, 2025.
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The Executive Committee of Aavas Financiers' Board has approved the issuance of up to 20,000 Senior, Secured, Rated, Listed, Transferable, Redeemable Non-Convertible Debentures (NCDs) on a private placement basis. Each NCD has a face value of Rs. 1,00,000, taking the total issue size up to Rs. 200 Crores. The NCDs will have a 60-month (5-year) tenor, with interest payable every quarter and principal repaid in 20 equal quarterly instalments. The NCDs will be listed on the WDM segment of BSE and are secured by a first-ranking exclusive charge of at least 110% over identified loan receivables of the company. The coupon rate is yet to be disclosed and will be mentioned in the Key Information Document (KID).
This is a Rs. 200 Crore debt-raising move by Aavas Financiers to strengthen its funding base for lending operations. Since it is a private placement of secured NCDs, there is no dilution for existing equity shareholders. The coupon rate, once disclosed, will be the key factor for evaluating cost of borrowing. Shareholders should monitor the KID for the final coupon rate and allotment date.