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Aavas Financiers Ltd’s (AFL) board has approved the issuance of up to 6,500 Non-Convertible Debentures (NCDs) having ₹10 lakh face value each aggregating up to ₹650 crore on a private placement basis.
The NCDs, which will be rated, unlisted, senior, secured, and redeemable, will be of five years tenor. The Jaipur-headquartered housing finance company, in a regulatory filing, said investors will receive bullet repayment on the maturity date.
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