Aavas Financiers Limited has announced the allotment of 90,867 equity shares following the exercise of Employee Stock Options under multiple employee benefit schemes. The Nomination and Remuneration Committee of the Board of Directors approved this allotment through a circular resolution passed on March 24, 2026.

Share Allotment Details

The allotment comprises equity shares of Rs. 10/- each distributed across three employee stock option schemes. The breakdown demonstrates the company's commitment to employee participation through various incentive programs.

The Performance Stock Option Plan-2024 accounts for the largest portion of the allotment, representing approximately 88.65% of the total shares issued under this exercise.

Impact on Share Capital

The allotment has resulted in an increase in the company's paid-up equity share capital. The capital structure change reflects the successful exercise of employee stock options across multiple schemes.

The increase represents an addition of Rs. 9,08,670 to the paid-up capital, corresponding exactly to the 90,867 shares allotted at face value.

Regulatory Compliance and Next Steps

The newly allotted shares will rank pari-passu with the existing equity shares of the company, ensuring equal rights and privileges for all shareholders. Aavas Financiers is currently completing the necessary formalities with respect to listing of the allotted shares on the stock exchanges.

The event occurred on March 24, 2026, at 11:52 A.M., with the company fulfilling its disclosure obligations under Regulation 30 of the Securities and Exchange Board of India regulations. This allotment demonstrates the active participation of employees in the company's equity participation schemes across different vintage programs.

Aavas Financiers Limited has secured a provisional [ICRA]AAA(SO) rating from ICRA Limited for Pass-Through Certificates (PTCs) worth Rs. 495.61 crore. The rating pertains to Series A1 PTCs to be issued by Prime Home Loan Trust V, a Special Purpose Vehicle under the Mortgage-Backed Securities transaction originated by the company.

Rating Details and Structure

The provisional rating was assigned on March 20, 2026, following a rating agreement dated March 18, 2026. The PTCs are backed by a pool of home loan receivables, representing a securitization of the company's mortgage portfolio.

Rating Significance and Definition

ICRA defines the [ICRA]AAA(SO) rating as instruments considered to have the highest degree of safety regarding timely servicing of financial obligations, carrying the lowest credit risk. The structured finance rating factors in the estimate of relative potential loss to investors, considering credit enhancements over the instrument's tenure.

The "SO" suffix stands for Structured Obligation, indicating that the rating is specific to the rated issue, its terms, and structure. This rating does not represent ICRA's opinion on the general credit quality of Aavas Financiers as an issuer.

Conditions and Requirements

The provisional rating is subject to several conditions that must be fulfilled before finalization:

• Fulfillment of all structural conditions
• Review of transaction documentation by ICRA
• Confirmation of PTCs yield
• Legal opinion on transaction documentation
• Due diligence and audit report of the loan pool

Regulatory Compliance

Aavas Financiers has informed the stock exchanges about this development in compliance with Regulation 30(6) and 51 read with Schedule III of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company must communicate acceptance or non-acceptance of the assigned rating by March 27, 2026, as per SEBI requirements.

Transaction Structure

The securitization transaction involves Prime Home Loan Trust V as the SPV, with IDBI Trusteeship Services Limited serving in the trustee capacity. This structure allows Aavas Financiers to monetize its home loan portfolio while transferring credit risk to investors in the PTCs.