The housing finance company will issue up to 20,000 senior, secured, rated, listed, and redeemable NCDs with a face value of ₹100,000 each, according to a stock exchange filing.
The debentures will carry a tenor of 60 months and are proposed to be listed on the Wholesale Debt Market (WDM) segment of BSE Ltd. Interest will be paid quarterly, while the principal will be repaid in 20 equal quarterly instalments of ₹5,000 per debenture, the company said.
The NCDs will be secured by a first-ranking exclusive charge over the company’s identified loan receivables, covering at least 110% of the principal and interest payable.
The move follows shareholder approval granted at Aavas’ 14th Annual General Meeting held in August 2024.
Aavas shares ended 0.3% lower at a price of ₹1,819.00 ahead of the announcement.
