Aavas Financiers Ltd.
Established in 2011, Jaipur based Aavas Financiers Ltd (AFL) is a retail, affordable housing finance company, primarily serving low and middle income self employed customers in semi-urban and rural areas in India. A majority of customers have limited access to formal banking credit. According to ICRAReport, Company had the lowest GNPAs as of March 31, 2018 and the second highest growth rate of assets under management for the last three financial years, among affordable housing finance companies that had assets under management between ₹ 25 billion and ₹ 200 billion.
Company offer customers home loans for the purchase or construction of residential properties, and for the extension and repair of existing housing units. As of March 31, 2018, a majority of the home loans that disbursed were for single-unit properties, almost all of which were to be occupied by the borrowers themselves. In addition to home loans, offer customers other mortgage loans including loans against property, which accounted for 22.44% of our Gross Loan Assets as of March 31, 2018.
As of March 31, 2018, 60.40% of Gross Loan Assets were from customers who belonged to the economically weaker section and low income group, earning less than ₹ 50,000 per month and 34.76% of Gross Loan Assets were from customers who were new to credit. As of March 31, 2018, 63.81% of Gross Loan Assets were from self-employed customers. The average sanctioned amount of home loans and other mortgage loans was ₹ 0.88 million and ₹ 0.80 million, respectively, on Gross Loan Assets, as of March 31, 2018. As of March 31, 2018, our Gross Loan Assets had an average loan-to-value of 50.38% at the time of the sanctioning of the loan. Since the commencement of our operations in March 2012, have served more than 57,000 customers.
Company adopted a strategy of contiguous on-ground expansion across regions and as of March 31, 2018, conducted operations through 165 branches spread across 92 districts in eight states of which, we have a significant presence in the four states of Rajasthan, Gujarat, Maharashtra and Madhya Pradesh. As of March 31, 2018, employed 1,862 personnel and had 52,788 loan accounts including securitized and assigned cases.
Company is a technology driven company and leverage information technology and data analytics for onboarding customers, underwriting analysis, loan monitoring, risk management and collection functions. Between Fiscals 2014 and 2018, invested ₹ 150.45 million in information technology systems.
Company offer customers home loans for the purchase or construction of residential properties, and for the extension and repair of existing housing units. As of March 31, 2018, a majority of the home loans that disbursed were for single-unit properties, almost all of which were to be occupied by the borrowers themselves. In addition to home loans, offer customers other mortgage loans including loans against property, which accounted for 22.44% of our Gross Loan Assets as of March 31, 2018.
As of March 31, 2018, 60.40% of Gross Loan Assets were from customers who belonged to the economically weaker section and low income group, earning less than ₹ 50,000 per month and 34.76% of Gross Loan Assets were from customers who were new to credit. As of March 31, 2018, 63.81% of Gross Loan Assets were from self-employed customers. The average sanctioned amount of home loans and other mortgage loans was ₹ 0.88 million and ₹ 0.80 million, respectively, on Gross Loan Assets, as of March 31, 2018. As of March 31, 2018, our Gross Loan Assets had an average loan-to-value of 50.38% at the time of the sanctioning of the loan. Since the commencement of our operations in March 2012, have served more than 57,000 customers.
Company adopted a strategy of contiguous on-ground expansion across regions and as of March 31, 2018, conducted operations through 165 branches spread across 92 districts in eight states of which, we have a significant presence in the four states of Rajasthan, Gujarat, Maharashtra and Madhya Pradesh. As of March 31, 2018, employed 1,862 personnel and had 52,788 loan accounts including securitized and assigned cases.
Company is a technology driven company and leverage information technology and data analytics for onboarding customers, underwriting analysis, loan monitoring, risk management and collection functions. Between Fiscals 2014 and 2018, invested ₹ 150.45 million in information technology systems.
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Management:
Issue Details:
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Name
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Designation
|
|---|---|
Krishan Kant Rathi
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Chairman
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Sushil Kumar Agarwal
|
Director & CEO
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Ghanshyam Rawat
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Chief Financial Officer
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Sunku Ram Naresh
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Chief Business Officer
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Ashutosh Atre
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Chief Credit Officer
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IPO Snapshot:
Particulars
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Details
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|---|---|
| Dates | 25-Sep-2018 to 27-Sep-2018 |
| Face Value | Rs10/share |
Price Band
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Rs818 - Rs821/share
|
Discount
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Nil
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Bid lot
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18 shares and multiples
|
| Listing | NSE & BSE |
Mode of Payment
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ASBA (Mandatory)
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Issue Details:
| Issue Size | Rs173,407mn |
| QIB | 50% |
| NIB | 15% |
| Retail | 35% |
| Lead Managers | ICICI Securities Ltd. Citigroup Global Markets India Pvt. Ltd. Edelweiss Financial Services Ltd. Spark Capital Advisors (India) Pvt. Ltd. HDFC Bank Ltd. |
Registrar: Link Intime India Pvt. Ltd.
Allotment Status: Check Allotment status
Allotment Status: Check Allotment status
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