Aquilo House Pte. Ltd. ("Purchaser"), an entity belonging to CVC Capital Partners Asia VI, has entered into definitive agreements to acquire in aggregate 2,09,49,112 equity shares constituting 26.47% of the paid-up share capital of Aavas Financiers (“Aavas” or “Company”) from Lake District Holdings Limited (an affiliate of Kedaara Capital), Partners Group ESCL Limited and Partners Group Private Equity (Master Fund), LLC (collectively "Sellers").
Accordingly, the execution of the definitive agreements has triggered an obligation of the Purchaser to make an open offer in accordance with Regulation 3(1) and Regulation 4 of the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.
Transaction will be subject to satisfaction of customary conditions including receipt of the necessary statutory approvals. Upon consummation of the proposed transaction in accordance with the terms of the definitive agreements, the Purchaser shall become the promoter of the Company and the existing members of the promoter and promoter group of the Company including the Sellers shall cease to be promoters/member of promoter group of the Company.
Click here to access the public announcement about the offer.
About Aavas Financiers:
Established in 2011 and headquartered in Jaipur, Aavas Financiers is one of India’s leading Housing Finance companies focused on providing Home Loans, Home Construction Loans, Loan Against Property, Home Improvement Loans and MSME Business Loans to low and middle income salaried and self-employed customers in underserved and underreached markets.
Aavas Financiers is listed on the BSE Limited (“BSE”) and National Stock Exchange of India Limited (“NSE”) since October 08, 2018.