AAVAS Financiers after market hours on Tuesday announced that its board has approved raising Rs 100 crore by issuing Debentures on private placement basis.
The Executive Committee of the board at their meeting held yesterday, 20 October 2020 has pursuant to the authority entrusted by the board of directors approved the issuance of Rated, secured, redeemable, listed, Non-Convertible Debentures (NCDs or Debentures) having a face value of Rs. 10,00,000 each, aggregating up to an amount of Rs 100 crore on a Private Placement basis.
Shares of AAVAS Financiers were trading 0.28% higher at Rs 1,491 on BSE.
AAVAS Financiers is a retail, affordable housing finance company, primarily serving low- and middle-income self-employed customers in semi-urban and rural areas in the country.
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