Aavas Financiers

Last updated

Aavas Financiers Limited
Company type Public
ISIN INE216P01012
Industry Financial services
FoundedFebruary 2011
Headquarters
Jaipur
,
India
Area served
India
Key people
  • Sachinder Bhinder
    (Managing Director & CEO)
  • Ghanshyam Rawat(CFO)
Website 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. [1] [2] Aavas is registered with National Housing Bank as a Housing Finance Company and was granted the license in August 2011. [3] [4]

Contents

History

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]

Awards

Stock Exchange Listings

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]

Related Research Articles

Housing Development Finance Corporation was an Indian private sector mortgage lender based in Mumbai. It was the biggest housing finance company in India. It also had a presence in banking, life and general insurance, asset management, venture capital and deposits through its associate and subsidiary companies.

<span class="mw-page-title-main">Reliance Capital</span> Indian Financial Services company

Reliance Capital Limited is an Indian diversified financial services holding company promoted by Reliance Anil Dhirubhai Ambani Group. Reliance Capital, a constituent of Nifty Midcap 50 and MSCI Global Small Cap Index, is a part of the Reliance Group. It is amongst India's leading and most valuable financial services companies in the private sector. As on 31 March 2017, the net worth of the company stood at ₹16,548 crore, while its total assets as on the date stood at ₹82,209 crore. In Fortune India 500 list of 2018, Reliance Capital was ranked as the 77th largest corporation in India with 5th rank in 'Non-Banking Finance' category.

<span class="mw-page-title-main">Life Insurance Corporation</span> Indian public sector life insurer

Life Insurance Corporation of India (LIC) is an Indian multinational Central Public sector life insurance company headquartered in Mumbai. It is India's largest insurance company as well as the largest institutional investor with total assets under management worth ₹52.52 trillion (US$630 billion) as of March 2024. It is under the ownership of Government of India and administrative control of the Ministry of Finance.

Kotak Mahindra Bank Limited is an Indian banking and financial services company headquartered in Mumbai. It offers banking products and financial services for corporate and retail customers in the areas of personal finance, investment banking, life insurance, and wealth management. As of December 2023, the bank has 1,869 branches and 3,239 ATMs, including branches in GIFT City and DIFC (Dubai).

Housing Development and Infrastructure Limited, doing business as HDIL, is an Indian real estate development company based in Mumbai.

<span class="mw-page-title-main">Indiabulls</span> Indian financial services conglomerate

The Indiabulls Group is an Indian conglomerate headquartered in Gurgaon, whose primary businesses are housing finance, consumer finance, and real estate. The group also has a presence in wealth management, construction-equipment rentals, pharmaceuticals, and LED lighting.

<span class="mw-page-title-main">Shriram Group</span> Indian financial services conglomerate

Shriram Group is an Indian conglomerate headquartered in Chennai. It was founded on 5 April 1974 by R. Thyagarajan, AVS Raja and T. Jayaraman. The group had its beginning in chit funds business and later on entered the lending and insurance businesses.

Yes Bank is an Indian private sector bank, headquartered in Mumbai, catering to retail customers, MSMEs, and corporate clients. Its network is spread across 300 districts in India and comprises 1,198 branches, 193 BCBOs and 1,287+ ATMs.

Poonawalla Fincorp Limited is an Indian non-banking financial company (NBFC) engaged in consumer and MSME financing. It is headquartered in Pune and is part of the Cyrus Poonawalla Group.

Bandhan Bank Ltd. is a banking and financial services company, headquartered in Kolkata. Bandhan Bank is present in 35 out of 36 states and union territories of India, with 6,297 banking outlets and 3.36 crore customers. Having received the universal banking licence from the Reserve Bank of India, Bandhan Bank started operations on August 23, 2015, with 501 branches, 50 ATMs and 2,022 Banking Units (BUs). The Bank has mobilised deposits of ₹1,35,202 crore and its total advances stand at ₹1,24,721 crore as of March 31, 2024.

Angel One Limited, formerly known as Angel Broking Limited, is an Indian stockbroker firm established in 1996. The company is a member of the Bombay Stock Exchange, National Stock Exchange of India, National Commodity & Derivatives Exchange Limited and Multi Commodity Exchange of India Limited. It is a depository participant with Central Depository Services Limited (CDSL).

Bajaj Finance Limited (BFL) is an Indian non-banking financial company headquartered in Pune. It is one of the leading non-banking financial companies (NBFCs) of India with a customer base of 83.64 million and holds assets under management worth ₹330,615 crore (US$40 billion), as of March 2024.

Ujjivan Small Finance Bank Limited is an Indian small finance bank based in Bangalore, which commenced operations on 1 February 2017. Ujjivan Financial Services holds an 80 percent stake in the bank.

<span class="mw-page-title-main">AU Small Finance Bank</span> Indian small finance commercial bank

AU Small Finance Bank Limited is an Indian scheduled commercial small finance bank and India’s largest tech-led small finance bank, based in Jaipur. It was founded as vehicle finance company and NBFC, AU Financiers (India) Ltd in 1996 and converted into a full-fledged small finance bank on 19 April 2017.

Piramal Capital and Housing Finance Limited is a non-deposit taking housing finance company, headquartered in Mumbai with branches in major cities across India. DHFL was established to enable access to economical housing finance to the lower and middle income groups in semi-urban and rural parts of India. DHFL is the second housing finance company to be established in the country. The company also leases commercial and residential premises. DHFL is among the 50 biggest financial companies in India.

ICICI Home Finance Company (ICICIHFC) is an Indian public limited housing finance company (HFC), headquartered in Mumbai with branches in major cities across India. The company operates as a wholly owned subsidiary of ICICI Bank and is registered with the regulation authority of India - National Housing Bank (NHB). It provides home and commercial loans, loan against property, gold loans and accepts fixed deposits.

<span class="mw-page-title-main">Navi Group</span> Indian financial services company

Navi is an Indian financial services company founded by Sachin Bansal and Ankit Agarwal in 2018. Navi operates in the space of digital Loans, home loans, mutual funds, health insurance, digital gold and micro-loans. It currently has $100 million in revenue with $10 million in profit.

RattanIndia, formerly RattanIndia Infrastructure Ltd., is an Indian company that is involved in the energy sector. The traditional focus of the company was on coal on thermal power; however, the company has expanded its scope more recently, focusing more on emerging technologies and e-commerce.

Home First Finance Company India Limited is an Indian housing finance company in the affordable housing segment based in Mumbai and founded in 2010. It provides home loans, loan against property and home construction loans. Its equity shares are listed on Bombay Stock Exchange and National Stock Exchange.

Signature Global is a publicly-held real estate development company in India. It was established in 2014 and is headquartered in Gurgaon, Delhi. It operates in the residential and commercial sectors and has developed projects in Delhi-NCR region. In less than a decade, the company holds a market share of 14% in Delhi NCR & 36% in Gurugram in terms of Unit Supplied < INR 30MN.

References

  1. ↑ "Aavas Financiers to raise ₹100 crore through NCDs". @businessline. 25 December 2020. Archived from the original on 25 December 2020. Retrieved 19 March 2021.
  2. ↑ Baid, Gautam (19 March 2021). The Joys of Compounding: The Passionate Pursuit of Lifelong Learning, Revised and Updated. Columbia University Press. ISBN   978-0-231-55211-0.
  3. ↑ "AAVAS.IN | Aavas Financiers Ltd. Company Profile & Executives - WSJ". www.wsj.com. Retrieved 19 March 2021.
  4. ↑ "Aavas Financiers Ltd - Company Profile and News". Bloomberg.com. Retrieved 19 March 2021.
  5. ↑ "IFC to invest $40 mn in Aavas Financiers | M&A Critique". 9 May 2017. Retrieved 19 March 2021.
  6. ↑ Limited, Aavas Financiers. "Aavas Financiers Ltd - Home Loan, Housing Loan Finance Company in India". www.aavas.in. Archived from the original on 19 December 2018. Retrieved 19 March 2021.
  7. ↑ "MarketWatch Aavas Financiers Profile". www.marketwatch.com. 3 May 2023. Retrieved 5 March 2023.
  8. ↑ "Aavas Financiers Raises Rs 520 Cr From 34 Anchor Investors, IPO Opens On September 25". Moneycontrol. 24 September 2018. Archived from the original on 24 September 2018. Retrieved 19 March 2021.
  9. ↑ "Aavas Financiers IPO Review - Aavas Financiers IPO Dates, Issue Price, Subscription and Allotment Status - The Economic Times". economictimes.indiatimes.com. Archived from the original on 29 May 2020. Retrieved 19 March 2021.
  10. ↑ "Aavas Financiers' IPO: Here's All You Need To Know". BloombergQuint. 24 September 2018. Retrieved 19 March 2021.
  11. ↑ "Aavas raises Rs 200 cr from UK's CDC group". Business Standard India. Press Trust of India. 20 December 2018. Retrieved 19 March 2021.
  12. ↑ www.ETRealty.com. "Aavas Financiers raises Rs 200 crore from UK's CDC Group - ET RealEstate". ETRealty.com. Retrieved 19 March 2021.
  13. ↑ ANI (17 September 2019). "Aavas Financiers raises Rs 345 crore from IFC through NCDs". Business Standard India. Retrieved 19 March 2021.
  14. ↑ "Affordable housing financier Aavas gets Rs 345 cr funding from IFC". Outlook India. Retrieved 19 March 2021.
  15. ↑ www.ETRealty.com. "IFC invests Rs 345 crore in Aavas Financiers - ET RealEstate". ETRealty.com. Retrieved 19 March 2021.
  16. ↑ "Affordable housing firm Aavas gets $60m ADB loan". @businessline. 31 March 2020. Archived from the original on 2 April 2020. Retrieved 19 March 2021.
  17. ↑ Market, Capital (30 March 2020). "Aavas Financiers gains on securing ADB loan to boost housing finance in India". Business Standard India. Retrieved 19 March 2021.
  18. ↑ "Kedaara-backed Aavas Financiers to raise loan from Asian Development Bank". VCCircle. 19 March 2021. Archived from the original on 27 November 2020. Retrieved 18 February 2021.
  19. ↑ www.ETEnergyworld.com. "IFC, Aavas Financiers sign pact for affordable green housing finance for low-income borrowers - ET EnergyWorld". ETEnergyworld.com. Archived from the original on 7 December 2020. Retrieved 19 March 2021.
  20. ↑ "New project to help catalyse affordable green housing finance in India". Energy Live News. 19 March 2021. Archived from the original on 4 December 2020. Retrieved 18 February 2021.
  21. ↑ admin (19 March 2021). "IFC signs agreement for affordable green housing in India". GreentechLead. Archived from the original on 3 December 2020. Retrieved 18 February 2021.
  22. ↑ Sharma, Sandeep Ravidutt (19 March 2021). ProjectX India: 15th December 2020 | Tracking Multisector Projects from India. Sandeep Ravidutt Sharma.
  23. ↑ "Statement of consolidated unaudited financial results for the quarter and half year ended September 30, 2023 published in Financial Express Epaper 27 Oct 2023". Financial Express. Retrieved 27 October 2023.
  24. ↑ "Aavas Financiers Limited: [ICRA]AA-(Stable) rating assigned". 19 March 2021.
  25. ↑ "Aavas Financiers Recognized as Best BFSI Brand at the ET Best BFSI Brands Conclave". ThePrint. Retrieved 22 May 2023.
  26. ↑ "FE India's Best Bank Awards: Take a look at Nirmala Sitharaman along with other winners from the ceremony – PHOTOS". Financialexpress. 28 August 2022. Retrieved 15 July 2024.
  27. ↑ "Aavas Financiers Ltd is now Great Place to Work-Certified". ThePrint. Retrieved 29 March 2022.
  28. ↑ "Aavas Financiers Listing Information - The Economic Times". economictimes.indiatimes.com. Retrieved 19 March 2021.
  29. ↑ "Stock Share Price | Get Quote | BSE". www.bseindia.com. Retrieved 19 March 2021.
This page is based on this Wikipedia article
Text is available under the CC BY-SA 4.0 license; additional terms may apply.
Images, videos and audio are available under their respective licenses.