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    AAVAS FINANCIERS LTD.

    04 December 2024 | 01:54

    Industry >> Finance - Housing

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    ISIN No INE216P01012 BSE Code / NSE Code 541988 / AAVAS Book Value (Rs.) 476.77 Face Value 10.00
    Bookclosure 52Week High 1979 EPS 62.00 P/E 26.94
    Market Cap. 13217.01 Cr. 52Week Low 1307 P/BV / Div Yield (%) 3.50 / 0.00 Market Lot 1.00
    Security Type Other

    History of Company

    The company history sections lists out major chronological events that happened to the company.

    Brief history of the Company

    The Company was incorporated as `Au Housing Finance Private Limited' on February 23, 2011, as a private limited company under the Companies Act 1956, with a certificate of incorporation granted by the RoC. Pursuant to a special resolution passed by the shareholders on January 10, 2013, the Company was converted into a public limited company and the name was changed to `AU Housing Finance Limited'. Consequently, the RoC certified the change of name upon conversion to a public limited company on January 11, 2013. Thereafter, pursuant to a special resolution passed by the shareholders on February 23, 2017, the name of the Company was changed to
    `Aavas Financiers Limited' and, consequently, a fresh certificate of incorporation dated March 29, 2017 was
    issued by the RoC.

    In terms of a certificate of registration dated August 4, 2011 issued by the NHB, bearing serial number 08.0095.11, the Company was registered as a `housing finance institution without accepting public deposits'. Subsequently, the NHB issued a certificate of registration dated February 8, 2013 bearing serial number 02.0104.13 consequent to the conversion of the Company into a public limited company. Subsequently, upon the change of the name to `Aavas Financiers Limited', the NHB issued a certificate of registration dated April 19, 2017 to the Company, bearing serial number 04.0151.17.

    Pursuant to a certificate of registration dated December 8, 2017, issued to the Company by the IRDAI, we have been authorised to act as a corporate agent (composite) under the Insurance Act and the Corporate Agents Regulation, 2015.

    Major events and milestones:

    2011

    - Incorporation of the Company as Au Housing Finance Private Limited

    - The Company was registered with NHB as a `housing finance institution without accepting public deposits'

    2012

    - The Company received its first rating "BBB+/Stable" from CRISIL for long term bank facilities of ? 1,000 million

    2013

    - The Company was converted into a public limited company and the name was changed to AU Housing Finance Limited

    - Consequent to the conversion of the Company into a public limited company, the NHB issued a fresh certificate of registration

    - The Company received its first refinancing assistance from NHB

    2014

    The Company issued its first tranche of non-convertible debentures ("NCDs")

    2015

    - The Company entered into its first pool buyout transaction in housing loan priority sector

    - Pursuant to a notification dated December 18, 2015 issued by the Central Government, the Company was identified as a `financial institution' under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002

    2016

    - Received investment from Lake District, Kedaara AIF-1, Master Fund and ESCL (defined hereinafter)

    - We were assigned "[ICRA] A with a stable outlook' by ICRA for long term facilities of ? 5,000 million

    - The Company received its first subsidy from NHB under `CLSS-PMAY'

    2017

    - The name of the Company was changed to Aavas Financiers Limited

    - We were assigned "Care A+; Stable" from CARE for long term bank facilities of ? 3,850 million and for long term subordinated debt of ? 500 million

    - Consequent to the change in the name of the Company, a fresh certificate of registration was issued by the NHB

    - The Company entered into first `pass through certificate' ("PTC") transaction with IDBI Trusteeship Services Limited

    2018

    - Upgradation of our CARE rating to "Care A+; Positive" for long term facilities of ? 10,120 million and for long term subordinated debt of ? 1,000 million

    - Upgradation of our CRISIL rating to "CRISIL A+/ Stable" for long term facilities of ? 5,570 million

    - Assignment of our ICRA rating to "[ICRA]A+/ Positive" for bank limits of ? 12,400 million and for NCDs of ? 3,500 million; and "[ICRA] A1+" for commercial paper of ? 500 million.

    Awards and accreditations:

    2016

    - Received the ASSOCHAM Excellence Award for being the "Best Housing Finance Company" in the affordable housing segment

    Certifications

    - The management system for customer complaint handling of the Company has been certified to be in compliance with ISO 10002:2014 standard in respect of customer satifisfaction and complaint handling process pursuant to a certificate of registration (CCH 04 00002) dated June 13, 2018. The certificate is valid until June 12, 2021.

    - The management system of the Company has been certified to be in compliance with ISO 9001:2015 standard in respect of the provision of lending process; e disbursements and client servicing including redressal mechanism pursuant to a certificate of registration (QM 04 00469) dated June 13, 2018. The certificate is valid until June 12, 2021.


    2016 -Aavas Financiers Ltd was awarded ASSOCHAM Excellence Award for being the best housing finance company in affordable housing in 2016.

    2022 -Aavas Financiers Ltd. has been conferred the BEST NBFC for the year 2020-21 in FE India's Best Banks Awards. -Aavas Financiers Ltd is now Certified Great Place to Work.

    2023 -Aavas Financiers Limited received ICAI Sustainability Reporting Awards 2022-23'under Silver Category for Excellence in BRSR-Mid Cap.

    Way2Wealth Brokers Private Limited - CIN U67120KA2000PTC027628 Stock Broking: SEBI Regn No.: INZ000178638 | Exchange Membership ID: NSE: 11502, BSE: 3117, MSEI:51000, MCX: 56730 Depository Participant: SEBI Regn No. IN-DP-472-2020 | CDSL ID: 12062900 & 12031500, NSDL ID: IN303077 PMS: SEBI Regn No.INP000000829 | Register with AMFI ARN: 77558 (Date of Initial registration - 8th Dec 2009, Date of expiry - 24th Jan 2027) | PFRDA: POP226012019

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