The Executive Committee of the Board of Directors of AAVAS Financiers Ltd vide Circular Resolution passed on March 30, 2020 has approved the allotment of 4,444 (Four thousand four hundred and forty four) secured, rated, unlisted, redeemable, transferable and interest-bearing, Non-Convertible Debentures of face value of Rs. 10,00,000 (Rupees Ten Lakh only) each aggregating up to Rs. 4,44,40,00,000 (Rupees Four hundred forty four crore forty lakh only) to Asian Development Bank (ADB).
The coupon offered by the above instrument is 8.645% per annum payable on semi-annual basis. The instrument has credit rating of CARE AA- Stable [Double A Minus; Outlook: Stable].
The tenure of the instrument is 8 (Eight) Years and redemption will be by way of 13 (thirteen) equal instalments (each in an amount equal to 1/13th (one-thirteenth) of the aggregate Initial Principal Amount of all the Debentures issued on each Redemption Date.
Shares of AAVAS Financiers Ltd was last trading in BSE at Rs.1063.7 as compared to the previous close of Rs. 967. The total number of shares traded during the day was 965 in over 15 trades.
The stock hit an intraday high of Rs. 1063.7 and intraday low of 1010. The net turnover during the day was Rs. 1025933.