Aavas Financiers
{{Short description|Jaipur based housing finance company}}
{{Unreliable sources|date=April 2021}}
{{Use dmy dates|date=June 2022}}
{{Use Indian English|date=June 2022}}
{{Infobox company
| name = Aavas Financiers Limited
| logo =
| logo_caption =
| type = Public
| traded_as = {{ubl|{{NSE|AAVAS}}|{{BSE|541988}}|}}
| ISIN = {{ISIN|sl=n|pl=y|INE216P01012}}
| industry = Financial services
| founded = February 2011
| hq_location_city = Jaipur
| hq_location_country = India
| area_served = India
| key_people = {{ubl|Sachinder Bhinder (Managing Director & CEO)|Ghanshyam Rawat (CFO)}}
| website = {{URL|https://www.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.{{Cite web|title=Aavas Financiers to raise ₹100 crore through NCDs|url=https://www.thehindubusinessline.com/money-and-banking/aavas-financiers-to-raise-100-crore-through-ncds/article33417353.ece|url-status=live|access-date=2021-03-19|website=@businessline|date=25 December 2020 |language=en|archive-url=https://web.archive.org/web/20201225102557/https://www.thehindubusinessline.com/money-and-banking/aavas-financiers-to-raise-100-crore-through-ncds/article33417353.ece |archive-date=2020-12-25 }}{{Cite book|last=Baid|first=Gautam|url=https://books.google.com/books?id=84W-DwAAQBAJ&dq=Aavas+Financiers&pg=PT512|title=The Joys of Compounding: The Passionate Pursuit of Lifelong Learning, Revised and Updated|date=2021-03-19|publisher=Columbia University Press|isbn=978-0-231-55211-0|language=en}} Aavas is registered with National Housing Bank as a Housing Finance Company and was granted the license in August 2011.{{Cite web|title=AAVAS.IN {{!}} Aavas Financiers Ltd. Company Profile & Executives - WSJ|url=https://www.wsj.com/market-data/quotes/IN/XNSE/AAVAS/company-people|access-date=2021-03-19|website=www.wsj.com}}{{Cite web|title=Aavas Financiers Ltd - Company Profile and News|url=https://www.bloomberg.com/profile/company/1378530D:IN|access-date=2021-03-19|website=Bloomberg.com|language=en}}
History
Aavas was incorporated in February 2011. It formally started its operations in March 2012.{{Cite web|date=2017-05-09|title=IFC to invest $40 mn in Aavas Financiers {{!}} M&A Critique|url=https://mnacritique.mergersindia.com/news/ifc-to-invest-40-mn-in-aavas-financiers/|access-date=2021-03-19|language=en-US}} The name of the company was changed to "Aavas Financiers Limited" in March, 2017.{{Cite web|last=|first=|title=Aavas Financiers Ltd - Home Loan, Housing Loan Finance Company in India|url=https://www.aavas.in/home-loan|url-status=live|access-date=2021-03-19|website=www.aavas.in|language=en-US|archive-url=https://web.archive.org/web/20181219030022/http://www.aavas.in:80/home-loan |archive-date=2018-12-19 }}
The company issued its IPO in October 2018.{{Cite web|title=Aavas Financiers Raises Rs 520 Cr From 34 Anchor Investors, IPO Opens On September 25|url=https://www.moneycontrol.com/news/business/markets/aavas-financiers-raises-rs-520-cr-from-34-anchor-investors-ipo-opens-on-september-25-2982601.html|url-status=live|access-date=2021-03-19|website=Moneycontrol|date=24 September 2018 |archive-url=https://web.archive.org/web/20180924190506/https://www.moneycontrol.com/news/business/markets/aavas-financiers-raises-rs-520-cr-from-34-anchor-investors-ipo-opens-on-september-25-2982601.html |archive-date=2018-09-24 }}{{Cite web|title=Aavas Financiers IPO Review - Aavas Financiers IPO Dates, Issue Price, Subscription and Allotment Status - The Economic Times|url=https://economictimes.indiatimes.com/aavas-financiers-ltd/ipos/companyid-35834.cms|url-status=live|access-date=2021-03-19|website=economictimes.indiatimes.com|archive-url=https://web.archive.org/web/20200529181302/https://economictimes.indiatimes.com/aavas-financiers-ltd/ipos/companyid-35834.cms |archive-date=2020-05-29 }}{{Cite web|title=Aavas Financiers' IPO: Here's All You Need To Know|url=https://www.bloombergquint.com/ipos/aavas-financiers-ipo-heres-all-you-need-to-know|access-date=2021-03-19|website=BloombergQuint|date=24 September 2018 |language=en}} Shortly after the IPO, CDC Group invested {{INR}}200 crore in Aavas.{{Cite news|agency=Press Trust of India|date=2018-12-20|title=Aavas raises Rs 200 cr from UK's CDC group|work=Business Standard India|url=https://www.business-standard.com/article/pti-stories/aavas-raises-rs-200-cr-from-uk-s-cdc-group-118122001019_1.html|access-date=2021-03-19}}{{Cite web|last=www.ETRealty.com|title=Aavas Financiers raises Rs 200 crore from UK's CDC Group - ET RealEstate|url=https://realty.economictimes.indiatimes.com/news/allied-industries/aavas-financiers-raises-rs-200-crore-from-uks-cdc-group/67186697|access-date=2021-03-19|website=ETRealty.com|language=en}}
In September 2019, the company received {{INR}}345 crore investment from International Finance Corporation, a member of the World Bank Group.{{Cite news|last=ANI|date=2019-09-17|title=Aavas Financiers raises Rs 345 crore from IFC through NCDs|work=Business Standard India|url=https://www.business-standard.com/article/news-ani/aavas-financiers-raises-rs-345-crore-from-ifc-through-ncds-119091700345_1.html|access-date=2021-03-19}}{{Cite web|title=Affordable housing financier Aavas gets Rs 345 cr funding from IFC|url=https://www.outlookindia.com/newsscroll/affordable-housing-financier-aavas-gets-rs-345-cr-funding-from-ifc/1620209|access-date=2021-03-19|website=Outlook India}}{{Cite web|last=www.ETRealty.com|title=IFC invests Rs 345 crore in Aavas Financiers - ET RealEstate|url=https://realty.economictimes.indiatimes.com/news/allied-industries/ifc-invests-rs-345-crore-in-aavas-financiers/71159825|access-date=2021-03-19|website=ETRealty.com|language=en}} 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'.{{Cite web|title=Affordable housing firm Aavas gets $60m ADB loan|url=https://www.thehindubusinessline.com/news/real-estate/affordable-housing-firm-aavas-gets-60m-adb-loan/article31216995.ece|url-status=live|access-date=2021-03-19|website=@businessline|date=31 March 2020 |language=en|archive-url=https://web.archive.org/web/20200402091117/https://www.thehindubusinessline.com/news/real-estate/affordable-housing-firm-aavas-gets-60m-adb-loan/article31216995.ece |archive-date=2020-04-02 }}{{Cite news|last=Market|first=Capital|date=2020-03-30|title=Aavas Financiers gains on securing ADB loan to boost housing finance in India|work=Business Standard India|url=https://www.business-standard.com/article/news-cm/aavas-financiers-gains-on-securing-adb-loan-to-boost-housing-finance-in-india-120033001134_1.html|access-date=2021-03-19}}{{Cite web|date=2021-03-19|title=Kedaara-backed Aavas Financiers to raise loan from Asian Development Bank|url=https://www.vccircle.com/kedaara-backed-aavas-financiers-to-raise-loan-from-asian-development-bank|url-status=live|access-date=2021-02-18|website=VCCircle|language=en-US|archive-url=https://web.archive.org/web/20201127080636/https://www.vccircle.com/kedaara-backed-aavas-financiers-to-raise-loan-from-asian-development-bank |archive-date=2020-11-27 }} In December 2020, to promote the concept of Green Housing, International Finance Corporation signed an agreement with the company.{{Cite web|last=www.ETEnergyworld.com|title=IFC, Aavas Financiers sign pact for affordable green housing finance for low-income borrowers - ET EnergyWorld|url=https://energy.economictimes.indiatimes.com/news/renewable/ifc-aavas-financiers-sign-pact-for-affordable-green-housing-finance-for-low-income-borrowers/79604732|url-status=live|access-date=2021-03-19|website=ETEnergyworld.com|language=en|archive-url=https://web.archive.org/web/20201207120052/https://energy.economictimes.indiatimes.com/news/renewable/ifc-aavas-financiers-sign-pact-for-affordable-green-housing-finance-for-low-income-borrowers/79604732 |archive-date=2020-12-07 }}{{Cite web|date=2021-03-19|title=New project to help catalyse affordable green housing finance in India|url=https://www.energylivenews.com/2020/12/04/new-project-to-help-catalyse-affordable-green-housing-finance-in-india/|url-status=live|access-date=2021-02-18|website=Energy Live News|language=en-US|archive-url=https://web.archive.org/web/20201204153938/https://www.energylivenews.com/2020/12/04/new-project-to-help-catalyse-affordable-green-housing-finance-in-india/ |archive-date=2020-12-04 }}{{Cite web|last=admin|date=2021-03-19|title=IFC signs agreement for affordable green housing in India|url=https://greentechlead.com/green-building/ifc-signs-agreement-for-affordable-green-housing-in-india-36727|url-status=live|access-date=2021-02-18|website=GreentechLead|language=en-US|archive-url=https://web.archive.org/web/20201203055408/https://greentechlead.com/green-building/ifc-signs-agreement-for-affordable-green-housing-in-india-36727 |archive-date=2020-12-03 }}{{Cite book|last=Sharma|first=Sandeep Ravidutt|url=https://books.google.com/books?id=ZC8PEAAAQBAJ&dq=Aavas+Financiers&pg=PR7|title=ProjectX India: 15th December 2020 {{!}} Tracking Multisector Projects from India|date=2021-03-19|publisher=Sandeep Ravidutt Sharma|language=en}}
Operations
As of June 30, 2024, Aavas has 371 branches operating in 13 states of India.{{Cite web|title=Statement of consolidated unaudited financial results for the quarter ended June 30, 2024 published in Financial Express Epaper 26 July 2024 |url=https://epaper.financialexpress.com/3896880/Delhi/July-26-2024#page/22/1|access-date=2024-07-26|website=Financial Express|language=en}}{{Cite news|date=2021-03-19|title=Aavas Financiers Limited: [ICRA]AA-(Stable) rating assigned|url=https://www.icra.in/Rationale/ShowRationaleReport/?Id=99007}} Presently the company is headed by Sachinder Bhinder as the MD and CEO.{{Cite web|date=2023-05-03|title=MarketWatch Aavas Financiers Profile|url=https://www.marketwatch.com/investing/stock/aavas/company-profile?countrycode=in&pid=232612740|access-date=2023-03-05|website=www.marketwatch.com|language=en}}
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.{{Cite web|title=Aavas Financiers Listing Information - The Economic Times|url=https://economictimes.indiatimes.com/aavas-financiers-ltd/infocompanylisting/companyid-35834.cms|access-date=2021-03-19|website=economictimes.indiatimes.com}}{{Cite web|title=Stock Share Price {{!}} Get Quote {{!}} BSE|url=https://www.bseindia.com/stock-share-price/aavas-financiers-ltd/aavas/541988/|access-date=2021-03-19|website=www.bseindia.com}}
References
{{reflist}}
{{Financial services in India}}
Category:Housing finance companies of India
Category:Companies listed on the National Stock Exchange of India