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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 name of the company was changed to "Aavas Financiers Limited" in March, 2017.[6]
The company issued its IPO in October 2018.[7][8][9] Shortly after the IPO, CDC Group invested ₹200 crore in Aavas.[10][11]
In September 2019, the company received ₹345 crore investment from International Finance Corporation, a member of the World Bank Group.[12][13][14] 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'.[15][16][17] In December 2020, to promote the concept of Green Housing, International Finance Corporation signed an agreement with the company.[18][19][20][21]
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Operations
As of June 30, 2024, Aavas has 371 branches operating in 13 states of India.[22][23] Presently the company is headed by Sachinder Bhinder as the MD and CEO.[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.[25][26]
References
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