AAVAS Financiers Approves ₹100 Cr NCD Issuance

AAVAS Financiers Ltd announced that its Executive Committee of the Board of Directors has approved the issuance of up to 10,000 Senior, Secured, Rated, Listed, Transferable, Redeemable Non-Convertible Debentures (NCDs) with a face value of ₹1,00,000 each, aggregating to ₹100 Crores. These NCDs will be issued on a private placement basis and are proposed to be listed on the Wholesale Debt Market segment of BSE Limited. The tenor of the instrument is 60 months from the Deemed Date of Allotment, with principal repayment in 20 equal quarterly installments. A first-ranking exclusive charge of at least 110% of the aggregate principal and interest amount will be created over identified receivables/loans/book debts.