By Vivek K. Mobile: 09920183006 Email:firstname.lastname@example.org
Aavas successfully completes IPO despite challenging market conditions
Aavas Financiers’ initial public offering closed successfully on Thursday September 27th amid challenging stock market conditions for the entire BFSI sector.
The issue garnered robust demand from institutional investors, who were attracted by the strong management team and differentiated business model leading to best-in-class operational metrics. Aavas is focused only on granular, retail home loans, and has a positive asset-liability match with no exposure to commercial paper.
The IPO investors included 34 blue-chip anchor investors such as Abu Dhabi Investment Authority, Kuwait Investment Authority, Nomura, Wasatch, HSBC Halbis, Amundi, SBI MF, Reliance MF, ICICI Prudential MF, Birla Sun Life MF, DSP MF, Kotak MF, etc.
Sushil Agarwal , Founder and CEO , Aavas Financiers Limited said that he is “grateful for the support reposed in Aavas by such high-quality investors recognizing our differentiated business model and prudent ALM practices, and is looking forward to “continuing to execute on the same strategy that has driven Aavas’ success thus far”.