Aavas Financiers Limited
Franklin Templeton Mutual Fund acquired a new 1.03% stake in Aavas Financiers Limited, entering the company with 8,20,020 shares.
A housing finance company that provides loans and advances to individuals for residential property purchases and construction across India. Operating since its incorporation in 2011, the company focuses on serving customers in tier-2 and tier-3 cities and semi-urban areas where traditional financing options are limited. Aavas Financiers specializes in affordable housing finance with a customer-centric approach to credit delivery and underwriting.
Indian arm of Franklin Templeton Investments, a global AMC with over USD 1.5 trillion in assets worldwide. Manages over Rs 1.2 lakh crore in India. Navigated a significant setback when six debt schemes were wound up in April 2020 due to illiquid credit exposure, with full investor capital recovered by 2022. Equity franchise led by CIO Anand Radhakrishnan has maintained consistent performance through the volatility.