AAVAS Financiers Ltd
AAVAS Financiers Ltd (AAVAS)

AAVAS Financiers Ltd (AAVAS)

₹2196.051.05%

Key Stats

₹2159.65
Day's Price Range
₹2230.95
₹2026.6
52-Week Price Range
₹3340
1 Month Return-7.74 %
3 Month Return-27.68 %
1 Year Return-3.38 %

Company Financials

  • Quarterly
  • Annual
Value in ₹ crore

Peer Comparsion

PE
Rank 12
48.17
EPS
Rank 5
₹45.09
BVPS
Rank 4
₹305.82
Dividend Yield
Rank 9
ROE
Rank 9
12.87%
Price To Book Ratio
Rank 11
7.1
Debt To Asset
Rank 12
0.73

Company Information

Aavas Financiers Ltd. Formerly known as Au Housing Finance Limited was incorporated on 30 November 2017 to carry on the business of financing by way of lending/hirepurchase and to provide on lease sublease or on hire including but not limited to all type of vehicles automobiles industrial plant and machinery office equipment movable and immovable assets building real estate household and domestic appliances and equipment furniture fixtures finishing items and all type of machinery etc. The Company is a retail affordable housing finance company primarily serving low and middle income self employed customers in semiurban and rural areas in India. A majority of its customers have limited access to formal banking credit.The Company offers customers home loans for the purchase or construction of residential properties and for the extension and repair of existing housing units. In addition to home loans the company offers customers other mortgage loans including loans against property. Since the commencement of operations in March 2012 the company has served more than 62500 customers.Aavas Financiers has adopted a strategy of contiguous onground expansion across regions and at present the company conducted its operations through 166 branches covering 95 districts in eight states of which it has a significant presence in the four States of Rajasthan Gujarat Maharashtra and Madhya Pradesh. The Company is a technology driven company and it leverages information technology and data analytics for on boarding customers underwriting analysis loan monitoring and risk management and collection functions. Between Fiscals 2014 and 2018 the company invested Rs 150.45 million in information technology systems.The Company secures financing from a variety of sources including term loans and working capital facilities proceeds from loans assigned and securitized proceeds from the issuance of nonconvertible debentures NCDs refinancing from the National Housing Bank NHB and subordinated debt borrowings from banks mutual funds insurance companies and other domestic foreign and multilateral financial institutions to meet its capital requirements. The Company is led by a professional management team and its Key Managerial Personnel held 7.19 of the outstanding equity interest of the Company.The Company was initially promoted by Au Financiers India Limited now known as AU Small Finance Bank Limited AuSFB which sold 90.10 of the outstanding equity interest of the Company in connection with its conversion to a small finance bank to Lake District Holdings Limited a subsidiary of Kedaara Capital I Limited Lake District Kedaara Capital Alternative Investment Fund Kedaara Capital AIF 1 Kedaara AIF1 Partners Group ESCL Limited ESCL and Partners Group Private Equity Master Fund LLC Master Fund in June 2016. Aavas Financiers Limited was incorporated as private limited company with the name Au Housing Finance Private Limited on February 23 2011. During the year under review the company was registered with National Housing Bank NHB as a housing finance institution without accepting public deposits. In 2012 the company received its first rating BBB/Stable from CRISIL for longterm bank facilities of Rs 1000 million.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 on January 11 2013. Consequent to the conversion of into a public limited company the NHB issued a fresh certificate of registration to the company. In 2013 the company received its first refinancing assistance from NHB. In 2014 the company issued its first tranche of nonconvertible debentures NCDs. In 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.In 2016 the company received investment from Lake District Kedaara AIF1 Master Fund and ESCL. During the year under review the company received its first subsidy from NHB under CLSSPMAYPursuant to a special resolution passed by the shareholders on February 23 2017 the name of the Company was changed to Aavas Financiers Limited on March 29 2017. Subsequently upon the change of name to Aavas Financiers Limited the NHB issued a certificate of registration dated April 19 2017 bearing serial number 04.0151.17. Pursuant to a certificate of registration dated December 8 2017 issued to the Company by the IRDAI it has been authorised to act as a corporate agent composite under the Insurance Act and the Corporate Agents Regulation 2015.In 2017 Aavas Financiers Limited entered into first pass through certificate PTC transaction with IDBI Trusteeship Services Limited.Aavas Financiers Limited came out with an initial public offer IPO during the period from 25 September 2018 to 27 September 2018. The IPO was a combination of fresh issue of Rs 400 crore and an offer for sale of upto 1.62 crores equity shares from 6 selling shareholders. The IPO was priced at Rs 821 per share. The stock made its debut on the bourses on 8 October 2018.During the year 2018 the Company has issued and allotted 432500 two thousand five Equity Shares of Rs 10/ per share aggregating to Rs 28372000/ on preferential issue basis. Further the Company has received Rs 2/ per share as application money.During the Year 2018 the Company has received Rs 2/ per share aggregating to Rs 31000047/ as 1st call Money in respect to the 720094 partly paid up equity shares of Rs 10/ each.During the year 2018 the Company has issued and allotted 360000 and 440000 Lakh share warrants convertible into equity shares of Rs 328/and Rs 430.50/ per share respectively. Further the Company has received Rs 3/ per convertible share warrants as warrant subscription money.During the year 2018 the Company has altered its Object Clause of Memorandum of Association MOA as per the suggestions given by the National Housing Bank during its onsite Annual inspection. Further the altered MOA is available at the registered office of the Company in the Business hours.During the year the Company expanded its branch network to 165 branches as of 31st March 2018 and plans to scale up its operation to newer geographies in 201819.
OrganisationAAVAS Financiers Ltd
HeadquartersJaipur
IndustryFinance