Aavas Financiers (NSE:AAVAS, BOM:541988) has received board approval to raise up to 2 billion Indian rupees through the allotment of non-convertible debentures, according to a Thursday filing to the Indian stock exchanges.
The company plans to allot 20,000 senior, secured, rated, listed, transferable, redeemable non-convertible debentures having a face value of 100,000 rupees each.
The debentures carry a coupon rate of 7.40% per annum and are scheduled to mature on June 26, 2030. They are proposed to be listed on the Wholesale Debt Market of the BSE.
The company's shares were up 4% in recent trade.