Aavas Financiers to raise Rs 100 cr by issuing bonds

Aavas Financiers Ltd on Friday said its board of directors has approved raising Rs 100 crore by issuing bonds on a private placement basis.

The Executive Committee of the board at its meeting held on Friday approved the issuance of rated, listed, senior, secured, redeemable, non-convertible debentures aggregating to Rs 100 crore, the company said in a regulatory filing.

The bonds will be issued on a private placement basis, it said.

Aavas is engaged in the business of providing housing loans, primarily, in the unserved and unreached markets.

It caters to customers in Rajasthan, Maharashtra, Gujarat, Madhya Pradesh, Haryana, Uttar Pradesh, Chhattisgarh, Uttarakhand, Punjab, Himachal Pradesh and Delhi.