Aavas Financiers, Jaipur based Affordable housing Finance company has received fresh Refinance Assistance of Rs. 400 crore in addition to the approval of undrawn limit of Rs. 100 crore pertaining to previous Year, in December 2018. Such refinance assistance will further strengthen liquidity position of the company, post the successful round of fund raise of Rs.200 crore from CDC Group through issuance of Rupee Denominated Masala Bonds.
The NHB funds are for a tenure up to 15 years which will provide a strong boost to our retail home loan lending activities in semi-urban and rural areas. Such refinance facility will be disbursed in accordance with the norms of refinance schemes of NHB.
The stock price has reacted positively to this news, with the price went up 1.5% to Rs.832, with its 52-week high and low at Rs.858.95 and Rs.611.50 respectively.