AAVAS Financiers: Aquilo House completes open offer acquisition

Aquilo House Pte Ltd, along with persons acting in concert (PACs), has successfully completed its open offer for AAVAS Financiers, acquiring 17,808,116 equity shares, representing 22.32% of the expanded voting share capital, at a price of INR1,775.41 per share. This acquisition, combined with the equity shares acquired through agreements, brings Aquilo House's post-offer shareholding to 48.59%. As a result of this transaction, Aquilo House will now be the promoter of AAVAS Financiers, with existing promoters to be reclassified as public shareholders upon the underlying transaction's completion. Additionally, the Board has approved increasing the maximum number of directors and altering Articles to include director nomination rights for Promoter and committees, signaling significant changes in governance structure to reflect Aquilo House's increased stake. Finally, the company allotted 3,719 equity shares of Rs.10/- each on March 25, 2025 pursuant to exercise of equivalent number of Performance Stock Options under Performance Stock Option Plan-2023. The company timely paid the interest and redeemed a portion of its Non-Convertible Debentures.