New Delhi, Mar 25 (PTI) Aavas Financiers on Friday said it has raised Rs 100 crore by issuing bonds to Kotak Mahindra Bank.
The executive committee of the board of directors of the company passed a resolution on March 25, 2022 and approved allotment of 1,000 rated, senior, secured, redeemable non-convertible debentures (NCDs) aggregating up to Rs 100 crore to Kotak Mahindra Bank, Aavas Financiers said in a regulatory filing.
The coupon on the bonds will be paid on a quarterly basis during tenure of issue.
The bonds are set to mature on March 25, 2027 and bear floating rate linked to the repo rate.
Aavas Financiers is in the business of providing housing loans, primarily in the un-served, unreached and under-served market.
It is present in states of Rajasthan, Maharashtra, Gujarat, Madhya Pradesh, Haryana, Uttar Pradesh, Chhattisgarh, Uttarakhand, Punjab, Himachal Pradesh, Delhi, Odisha and Karnataka.
Stocks of Aavas Financiers closed at Rs 2198.35 apiece on BSE, down by 2.70 per cent from previous close. PTI KPM DRR
