Aavas Financiers Limited is engaged in finance segments that provide affordable housing finance to low and middle-income self-employed customers that are spread across rural and semi-urban areas in India. According to ICRA Report the company has lowest GNPA’s as of 31st March 2018 and has the second highest growth rate of assets under management for the three financial years constantly.
Date of Establishment: The company was incorporated as ‘Au Housing Finance Private Limited’ on 23rd of February 2011 at Rajasthan. Thereafter the company was reformed to public limited company renamed to ‘Aavas Financiers Limited’ on 29th March 2017.
Promoters of Aavas Financiers Limited IPO: Lake District Holdings Limited and Partners Group ESCL Limited are the promoters of Aavas Financiers Limited.
Products and Services Offering: The company provides its clients with home loans for the purchase and construction of residential properties and also provides loans for extension and repair of the existing housing units. Besides this, it also provides other mortgage loans which consist of loan against property. In addition to this, it has developed new products and strategies such as ‘Aavas Plus’, ‘Aavas Refresh’ and ‘Aavas Winback’.
Customer Segments: The clientele base is spread across the states of Rajasthan, Gujarat, Maharashtra, Madhya Pradesh, Delhi, Haryana and Uttar Pradesh among others.
Objects of Aavas Financiers Limited IPO: The core objective of Aavas Financiers Limited IPO are:
Note: The company will not receive any proceeds from Offer for Sale.
Summary of Financial Information (Restated)
For the year/period ended (in Rs. Millions)
Profit After Tax