AAVAS Financiers approves ₹975 crore debenture issuance

AAVAS Financiers Limited’s executive committee, in a meeting held on December 23, 2025, approved the issuance of unlisted, secured, unrated, redeemable, and coupon-bearing Non-Convertible Debentures (NCDs) via private placement. The debentures, each with a face value of ₹2,00,00,000, aim to raise approximately ₹975 crores. This issuance will be conducted in two tranches, comprising three series of debentures.

The first tranche includes Series 1, not exceeding the INR equivalent of up to $100 million, and Series 2, not exceeding the INR equivalent of up to $4 million. The second tranche features Series 3, also not exceeding the INR equivalent of up to $4 million. These NCDs will be issued to a multilateral institution and will not be listed on any stock exchange.

The debentures will be secured by a first-ranking exclusive charge on specific receivables, maintaining a security cover of 110% of the aggregate value of the interest due and principal outstanding. The Final Redemption Date for Tranche 1 (Series 1 and 2) is the fourteenth Coupon Payment Date, and for Tranche 2 (Series 3) is the twelfth Coupon Payment Date, but no later than Tranche 1's Final Redemption Date.