Disclosure under Regulation 31A of SEBI (LODR) Regulations, 2015- Reclassification of Promoters and Members of the Promoter Group to Public Category pursuant to the Open Offer.
Awaiting price reaction for this filing.
Aavas Financiers has completed a change of control following the open offer by Aquilo House Pte. Ltd. (the Acquirer). The Acquirer acquired 17,808,116 equity shares (22.50%) through the open offer and an additional 2,09,49,112 shares (26.27%) via share purchase agreements from the existing promoters. As a result, Lake District Holdings, Partners Group ESCL, and Partners Group Private Equity (Master Fund) — who together held 26.27% — have been reclassified from promoters/promoter group to public shareholders and now hold zero shares. The Acquirer (Aquilo House Pte. Ltd.) now holds 3,87,57,228 equity shares, representing 48.96% of the company's total equity share capital, making it the new controlling shareholder of Aavas.
This is a major ownership change — the company now has a new single controlling shareholder (Aquilo House Pte. Ltd.) at just under the 50% threshold, which means further acquisitions by the Acquirer could trigger mandatory open offer obligations. For existing retail investors, the immediate impact is a complete exit by the previous private equity-style promoters (Partners Group and Lake District), while the new sponsor takes control of the housing finance company.