Aavas Financiers allots INR 200 crore in NCDs

AAVAS Financiers has announced the allotment of 20,000 Senior, Secured, Rated, Listed, Transferable, Redeemable, Non-Convertible Debentures (NCDs), each with a face value of INR 1,00,000, aggregating to INR 200,00,00,000. This was approved by the Executive Committee of the Board of Directors. The issuance is divided into two series: Series A and Series B, each comprising up to 10,000 NCDs. Series A has a coupon rate of 8.15%, while Series B carries an 8.11% coupon rate, both payable annually. The NCDs are proposed to be listed on the Wholesale Debt Market of BSE Limited. The allotment includes INR 30,00,00,000 in Series A and Series B Anchor Portions each, and INR 70,00,00,000 in Series A and Series B Non-Anchor Portions each. The total settlement amount received, including premium, is INR 2,00,46,90,000. The NCDs will mature in 60 months from the allotment date, making the maturity date April 26, 2030.