Aavas Financiers Gets Board Nod to Allot Debentures Worth INR2 Billion; Shares Up 4%

MT Newswires Live
26 Jun

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.

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