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Aavas Financiers
Jaipur based housing finance company From Wikipedia, the free encyclopedia
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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]
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History
Aavas was incorporated in February 2011. It formally started its operations in March 2012.[5]
The company issued its IPO in October 2018.[6][7][8] Shortly after the IPO, CDC Group invested ₹200 crore in Aavas.[9][10]
In September 2019, the company received ₹345 crore investment from International Finance Corporation, a member of the World Bank Group.[11][12][13] 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'.[14][15][16] In December 2020, to promote the concept of Green Housing, International Finance Corporation signed an agreement with the company.[17][18][19][20]
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Operations
As of June 30, 2024, Aavas has 371 branches operating in 13 states of India.[21][22] Presently the company is headed by Sachinder Bhinder as the MD and CEO.[23]
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.[24][25]
References
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