Company type | Public |
---|---|
ISIN | INE216P01012 |
Industry | Financial services |
Founded | February 2011 |
Headquarters | , |
Area served | India |
Key people |
|
Website | www |
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. [1] [2] Aavas is registered with National Housing Bank as a Housing Finance Company and was granted the license in August 2011. [3] [4]
Aavas was incorporated in February 2011. It formally started its operations in March 2012. [5] The name of the company was changed to "Aavas Financiers Limited" in March, 2017. [6] Presently the company is headed by Sachinder Bhinder as the MD and CEO. [7]
The company issued its IPO in October 2018. [8] [9] [10] Shortly after issuing IPO CDC group, United Kingdom has invested Rs. 200 Crore in Aavas. [11] [12]
In September 2019, the company received Rs 345 crore investment from International Finance Corporation, a member of the World Bank Group. [13] [14] [15] 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'. [16] [17] [18] In December 2020, to promote the concept of Green Housing, International Finance Corporation signed an agreement with the company. [19] [20] [21] [22] As of September 30, 2023, Aavas has 350 branches operating in 13 states of India. [23] [24]
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. [28] [29]
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