Brief history of the Company The Company was incorporated as `Au Housing Finance Private Limited' on February 23, 2011, as a private limited company under the Companies Act 1956, with a certificate of incorporation granted by the RoC. Pursuant to a special resolution passed by the shareholders on January 10, 2013, the Company was converted into a public limited company and the name was changed to `AU Housing Finance Limited'. Consequently, the RoC certified the change of name upon conversion to a public limited company on January 11, 2013. Thereafter, pursuant to a special resolution passed by the shareholders on February 23, 2017, the name of the Company was changed to
`Aavas Financiers Limited' and, consequently, a fresh certificate of incorporation dated March 29, 2017 was
issued by the RoC. In terms of a certificate of registration dated August 4, 2011 issued by the NHB, bearing serial number 08.0095.11, the Company was registered as a `housing finance institution without accepting public deposits'. Subsequently, the NHB issued a certificate of registration dated February 8, 2013 bearing serial number 02.0104.13 consequent to the conversion of the Company into a public limited company. Subsequently, upon the change of the name to `Aavas Financiers Limited', the NHB issued a certificate of registration dated April 19, 2017 to the Company, bearing serial number 04.0151.17. Pursuant to a certificate of registration dated December 8, 2017, issued to the Company by the IRDAI, we have been authorised to act as a corporate agent (composite) under the Insurance Act and the Corporate Agents Regulation, 2015. Major events and milestones: 2011 - Incorporation of the Company as Au Housing Finance Private Limited - The Company was registered with NHB as a `housing finance institution without accepting public deposits' 2012 - The Company received its first rating "BBB+/Stable" from CRISIL for long term bank facilities of ? 1,000 million 2013 - The Company was converted into a public limited company and the name was changed to AU Housing Finance Limited - Consequent to the conversion of the Company into a public limited company, the NHB issued a fresh certificate of registration - The Company received its first refinancing assistance from NHB 2014 The Company issued its first tranche of non-convertible debentures ("NCDs") 2015 - The Company entered into its first pool buyout transaction in housing loan priority sector - Pursuant to a notification dated December 18, 2015 issued by the Central Government, the Company was identified as a `financial institution' under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 2016 - Received investment from Lake District, Kedaara AIF-1, Master Fund and ESCL (defined hereinafter) - We were assigned "[ICRA] A with a stable outlook' by ICRA for long term facilities of ? 5,000 million - The Company received its first subsidy from NHB under `CLSS-PMAY' 2017 - The name of the Company was changed to Aavas Financiers Limited - We were assigned "Care A+; Stable" from CARE for long term bank facilities of ? 3,850 million and for long term subordinated debt of ? 500 million - Consequent to the change in the name of the Company, a fresh certificate of registration was issued by the NHB - The Company entered into first `pass through certificate' ("PTC") transaction with IDBI Trusteeship Services Limited 2018 - Upgradation of our CARE rating to "Care A+; Positive" for long term facilities of ? 10,120 million and for long term subordinated debt of ? 1,000 million - Upgradation of our CRISIL rating to "CRISIL A+/ Stable" for long term facilities of ? 5,570 million - Assignment of our ICRA rating to "[ICRA]A+/ Positive" for bank limits of ? 12,400 million and for NCDs of ? 3,500 million; and "[ICRA] A1+" for commercial paper of ? 500 million. Awards and accreditations: 2016 - Received the ASSOCHAM Excellence Award for being the "Best Housing Finance Company" in the affordable housing segment Certifications - The management system for customer complaint handling of the Company has been certified to be in compliance with ISO 10002:2014 standard in respect of customer satifisfaction and complaint handling process pursuant to a certificate of registration (CCH 04 00002) dated June 13, 2018. The certificate is valid until June 12, 2021. - The management system of the Company has been certified to be in compliance with ISO 9001:2015 standard in respect of the provision of lending process; e disbursements and client servicing including redressal mechanism pursuant to a certificate of registration (QM 04 00469) dated June 13, 2018. The certificate is valid until June 12, 2021.
2016
-Aavas Financiers Ltd was awarded ASSOCHAM Excellence Award for being the best housing finance company in affordable housing in 2016.
2022
-Aavas Financiers Ltd. has been conferred the BEST NBFC for the year 2020-21 in FE India's Best Banks Awards.
-Aavas Financiers Ltd is now Certified Great Place to Work.
2023
-Aavas Financiers Limited received ICAI Sustainability Reporting Awards 2022-23'under Silver Category for Excellence in BRSR-Mid Cap.
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