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Aavas Financiers Ltd IPO Opens on 25th Sept: 10 Key Things To Know

Published on Monday, September 24, 2018 by

Jaipur based Aavas Financiers Limited’s IPO will open for bidding from 25th September. Here are 10 key things you should know about the company -

  1. Aavas is a retail, affordable housing finance company. The company primarily serves home loans and mortgage loans to low and middle-income self-employed individuals in semi-urban and rural areas in India.
  2. Aavas had the lowest Gross NPAs as of March 31, 2018, and the second highest growth rate of AUM (Assets under management) for the last 3 years, among affordable housing finance companies with AUM between ₹ 25 billion and ₹ 200 billion.
  3. In addition to home loans, Aavas also offers mortgage loans like Loans Against Property which accounts for 24.18% of the Gross Loan Assets.
  4. The company has served more than 62,500 customers since its incorporation in 2011.
  5. It manages its operations through 166 branches across 95 districts in 8 states. It has a significant presence in Rajasthan, Gujarat, Maharashtra, and Madhya Pradesh.
  6. Aavas is a technology savvy company and leverages IT and data analytics for customer onboarding, loan underwriting, risk management, and recovery functions. In the last 4 years, it has invested ₹ 150.45 million in technology.
  7. Some of the key financial and operational information about the company-
  8. Aavas Financiers
  9. It has an experienced leadership team. The company’s founder, Whole Time Director and CEO, Sushil Kumar Agarwal, has over 17 years of experience in the financial services industry. Its co-founder and Chief Financial Officer, Ghanshyam Rawat, has over 23 years of work experience in the financial industry. Sunku Ram Naresh, the chief business officer, has experience in mortgages and FMCG distribution.
  10. The company has some reputed names as the shareholders such as Lake District, Kedaara AIF-1, ESCL, and Master Fund.
  11. The total assets (as restated) of the company grew from Rs 4179.23 million to Rs 38,174.52 million between fiscal years 2014 to 2018.

Issue Details-

Issue Open

Sep 25, 2018 - Sep 27, 2018

Issue Type

Book Built Issue IPO

Issue Size

21,121,437 Eq Shares of Rs 10 (aggregating up to Rs 1,734.07 Cr)

Fresh Issue

(Up to Rs 400.00 Cr)

Offer for Sale

16,249,359 Eq Shares of Rs 10

Issue Price

Rs 818 - Rs 821 Per Equity Share

Market Lot

18 Shares

Min Order Quantity

18 Shares

Listing At

BSE, NSE

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