Aavas Financiers Limited has received a credit rating reaffirmation from CARE Ratings Limited, maintaining its strong credit profile with a CARE AA rating and positive outlook. The rating agency announced this decision on March 26, 2026, following its assessment of the company's operational and financial performance for FY25 (Audited) and 9MFY26 (un-Audited).

Credit Rating Details

CARE Ratings has reaffirmed the credit ratings for two key financial instruments of Aavas Financiers:

The long-term bank facilities have been enhanced by ₹500 crore from the previous limit, while the NCD amount has been reduced by approximately ₹64.19 crore from the earlier sanctioned amount.

Bank Facility Composition

The ₹12,262 crore long-term bank facilities comprise term loans and fund-based limits from multiple banking partners. The term loan component totals ₹12,132 crore, with State Bank of India being the largest lender at ₹3,132.89 crore, followed by Punjab National Bank at ₹2,630.86 crore and Axis Bank Limited at ₹1,349.26 crore.

Major Banking Partners

The company maintains credit relationships with 20 banks, including:

• Public Sector Banks: State Bank of India, Punjab National Bank, Canara Bank, Bank of Baroda, Central Bank of India, Indian Bank, UCO Bank, Union Bank of India, and IDBI Bank
• Private Sector Banks: Axis Bank, HDFC Bank, Bandhan Bank, Federal Bank, Karnataka Bank, South Indian Bank, ICICI Bank, CSB Bank, and Kotak Mahindra Bank
• Foreign Banks: Shinhan Bank
• Development Financial Institution: Small Industries Development Bank of India

Non-Convertible Debentures Portfolio

The NCD portfolio of ₹1,274.92 crore consists of multiple tranches with varying maturity periods and interest rates. The debentures carry interest rates ranging from 7.35% to 8.49%, with maturity dates extending from November 2026 to June 2030.

NCD Breakdown by Outstanding Amount

Regulatory Compliance

Aavas Financiers informed the stock exchanges about this rating reaffirmation 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 secretary Saurabh Sharma signed the regulatory filing on March 27, 2026.

Rating Significance

The CARE AA rating indicates high safety regarding timely servicing of financial obligations, with very low credit risk. The positive outlook suggests potential for an upgrade in the rating based on the company's improving credit fundamentals and business prospects. This rating reaffirmation reflects CARE's confidence in Aavas Financiers' credit quality and its ability to meet debt obligations across economic cycles.

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.