AAVAS Financiers allots NCDs aggregating Rs 444.40 cr to Asian Development Bank

Receives $60 million ADB loan to boost housing finance for low-income women borrowers

AAVAS Financiers has allotted 4,444 secured, rated, unlisted, redeemable, transferable and interest bearing NCDs of face value of Rs 10 lakh each aggregating Rs 444.40 crore to Asian Development Bank.

The Asian Development Bank (ADB) has signed an agreement to lend up to $60 million in Indian rupee equivalent to Aavas Financiers (Aavas), a housing finance company in India, to improve access to housing finance for lower-income borrowers in the country, particularly women.

The loan is disbursed under ADB's Supporting Access to Housing Finance for Women in Lower-Income Groups and in Lagging States Project. Aavas will use the funds to provide housing finance to women in low-income communities either as primary borrowers or co-borrowers.

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