Aavas Financiers
Aavas Financiers, also known as Aavas, is a Jaipur based housing finance company known for providing home loans in the rural and semi-urban locations of India. Aavas is registered with National Housing Bank as a Housing Finance Company and was granted the license in August 2011.
History
Aavas was incorporated in February 2011. It formally started its operations in March 2012. The name of the company was changed to "Aavas Financiers Limited" in March, 2017.
The company issued its IPO in October 2018. Shortly after the IPO, CDC Group invested ₹200 crore in Aavas.
In September 2019, the company received ₹345 crore investment from International Finance Corporation, a member of the World Bank Group. In March 2020, Aavas signed an agreement with Asian Development Bank for receiving loan amount of $60 million specially targeting towards the 'women in lower income group'. In December 2020, to promote the concept of Green Housing, International Finance Corporation signed an agreement with the company.
Operations
As of June 30, 2024, Aavas has 371 branches operating in 13 states of India. Presently the company is headed by Sachinder Bhinder as the MD and CEO.
The equity shares of Aavas are listed on Bombay Stock Exchange where it is a constituent of the BSE 150 Midcap, and the National Stock Exchange of India where it is a constituent of Nifty Midcap 150.