AAVAS Financiers to raise up to Rs 200 crore via NCD private placement

AAVAS Financiers Executive Committee approved issuing up to 20,000 senior secured rated listed transferable redeemable non-convertible debentures with face value of Rs 1 lakh each, aggregating up to Rs 200 crore, via private placement. Tenor is 3 years with annual interest payment and bullet principal repayment at maturity. The NCDs will be listed on BSE Wholesale Debt Market segment. Coupon rate will be disclosed later in the Key Information Document. Proceeds likely to support lending operations of the housing finance company.