Aavas Financiers Limited has successfully allotted 10,000 Senior, Secured, Rated, Listed, Transferable, Redeemable, Non-Convertible Debentures (NCDs) with a face value of ₹1,00,000 each. The total issue size amounts to ₹100,00,00,000 (₹1,000 Crore), approved by the Executive Committee of the Board of Directors. These NCDs, carrying an initial coupon rate of 7.60% per annum, will be listed on the Wholesale Debt Market of BSE Limited and have a tenor of 60 months.
Aavas Financiers Allots ₹1,000 Crore in NCDs
Aavas Financiers Limited has announced the allotment of 10,000 Senior, Secured, Rated, Listed, Transferable, Redeemable, Non-Convertible Debentures (NCDs). Each NCD carries a face value of ₹1,00,000 (Indian Rupees One Lakh), resulting in a total issue size of ₹100,00,00,000 (Indian Rupees One Hundred Crore or ₹1,000 Crore). This allotment was approved by the Executive Committee of the Board of Directors of the Company.
Key Terms of the Issue
The NCDs are structured with an initial coupon rate of 7.60% (Seven Decimal Point Six Zero Percent) per annum, payable quarterly. The tenor of these debentures is 60 months (5 years) from the date of allotment, which is September 11, 2026. Consequently, the date of maturity is scheduled for September 11, 2031, subject to potential adjustments based on business day conventions or accelerated redemption clauses.
Listing and Security
These NCDs are proposed to be listed on the Wholesale Debt Market of the BSE Limited (BSE). The issue is secured by a first-ranking exclusive charge of at least 110% of the aggregate principal amount and interest due, by way of hypothecation over identified receivables, loans, and book debts, including un-encumbered Fixed Deposits, as detailed in the transaction documents.
Repayment Schedule
The principal amount of the Debentures will be repaid by Aavas Financiers Limited in 20 equal quarterly instalments of ₹5,000/- per Debenture. These repayments will commence from December 11, 2026, and will continue quarterly, with the final redemption payment falling on September 11, 2031. All payment schedules are subject to provisions concerning business day conventions, accelerated redemption, or events of default.
Additional Information
The company has confirmed that there are no specific letters or comments regarding payment/non-payment of interest or principal, and no cancellation or termination of the proposal for issuance of securities. Special rights or privileges attached to the instrument are as specified in the Key Information Documents (KID) and other transaction documents. Delay in payment of interest or principal beyond three months is not applicable.
Source: BSE
