The Navi Finserv Limited Issue Open has been confirmed from February 26, 2024 – March 7, 2024.
Navi Finserv Limited Developers IPO is a fixed issue size of Rs 300.00 Crores. Navi Finserv Limited, incorporated in 2012, is a non-deposit-taking, systemically important NBFC regulated with the RBI. It is a fully owned subsidiary of Navi Technologies Limited. The company provides digital personal loans, house loans, and real estate loans through its mobile app Navi. Navi Finserv Limited was earlier known as Chaitanya Rural Intermediation and Development Services Private Limited.
Start your investing journey today. How do you open your own demat account for free?
Bidding Dates
Feb 26-Mar 7
Issue Price
Rs 1000 per NCD
Face Value
Rs 1000 each NCD
Market Lot
1 NCD
Navi Finserv Limited NCD
The Navi Finserv Limited NCD Face Value is Rs 1000 each NCD.
IPO Overview
Navi Finserv Limited, incorporated in 2012, is a non-deposit-taking, systemically important NBFC regulated with the RBI. It is a fully owned subsidiary of Navi Technologies Limited. The company provides digital personal loans, house loans, and real estate loans through its mobile app Navi. Navi Finserv Limited was earlier known as Chaitanya Rural Intermediation and Development Services Private Limited.
The Navi app represents the company’s mobile-first app approach for personal loans and home loans. The company has also created its own cloud-native platform for real-time lending relationships, known as the Navi Lending Cloud. It allows lending partners to analyse customers and set loan parameters in real time. It also allows for real-time settlement of collection payments to co-lenders and reconciliation management. It allows for simple and seamless pool selection and due diligence when allocating funds directly. On September 30, 2023, the company had 955 employees.
Navi Finserv Limited NCD Detail
| Issue Open | February 26, 2024 – March 7, 2024 |
| Security Name | Navi Finserv Limited |
| Security Type | Secured, Redeemable, Non-Convertible Debentures (Secured NCDs) |
| Issue Size (Base) | Rs 300.00 Crores |
| Issue Size (Oversubscription) | Rs 300.00 Crores |
| Overall Issue Size | Rs 600.00 Crores |
| Issue Price | Rs 1000 per NCD |
| Face Value | Rs 1000 each NCD |
| Minimum Lot size | 10 NCD |
| Market Lot | 1 NCD |
| Listing At | BSE, NSE |
| Credit Rating | CRISIL A/Stable by CRISIL. |
| Tenor | 18, 27 and 36 months |
| Series | Series I to V |
| Payment Frequency | Monthly and Annually |
| Basis of Allotment | First Come First Serve Basis |
| Debenture Trustee/s | Catalyst Trusteeship Limited |
Navi Finserv Limited Limited Financial Information
| Period Ended | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
| Assets | 12,523.95 | 6,312.72 | 4,401.07 |
| Revenue | 2,078.55 | 819.89 | 565.24 |
| Profit After Tax | 264.16 | -14.66 | 118.17 |
| Reserves and Surplus | 2,153.99 | 1,080.52 | 1,010.85 |
| Amount in ₹ Crore | |||
Navi Finserv Limited Limited NCD Coupon Rates
| # | Series 1 | Series 2 | Series 3 | Series 4 | Series 5 |
|---|---|---|---|---|---|
| Frequency of Interest Payment | Monthly | Monthly | Annual | Monthly | Annual |
| Nature | Secured | Secured | Secured | Secured | Secured |
| Tenor | 18 Months | 27 Months | 27 Months | 36 Months | 36 Months |
| Coupon (% per Annum) | 10.00% | 10.40% | 10.90% | 10.65% | 11.19% |
| Effective Yield (% per Annum) | 10.47% | 10.91% | 10.94% | 11.19% | 11.19% |
| Amount on Maturity (In Rs.) | Rs 1,000.00 | Rs 1,000.00 | Rs 1,000.00 | Rs 1,000.00 | Rs 1,000.00 |
Navi Finserv Limited NCD Allocation Ratio
Company Profile
Objects of the Issue
The company intends to utilize the net proceeds from the issue towards the funding of the following objects:
- For the purpose of onward lending, financing, and repayment of existing loans and borrowings of the company.
- General corporate purposes.
Registrar Info
| Name | Link Intime India Private Ltd |
| Phone number | +91-22-4918 6270 |
| Email ID | navi.ncd2024@jmfl.com |
| Website | linkintime.co.in |
Contact Details
| Name | Navi Finserv Limited |
| Phone number | 080 45113400 |
| Email ID | secretarial@navi.com |
| Website | navi.com |
IPO Strenghts
- Experienced promoters and a competent management team.
- Well-established relationships with a loyal customer base.
- Access to markets worldwide, enabling global reach.
IPO Weakness
- Heavy reliance on customers based in the United States.
- Need to adhere to multiple laws and regulations in these countries to ensure compliance.
- Competition from other players in the market.
