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Sachin Bansal led Navi Technologies plans Rs 4000cr IPO, filing DRHP soon

Sachin Bansal-led Navi Technologies is planning for ₹4,000 crore initial public offering (IPO) and the fintech may file its draft prospectus with the markets regulator as soon as this week, news agency PTI reported citing people familiar with the matter. The IPO, which will completely be a fresh issue of equity according to the PTI report, is likely to open in June. There will be no offer-for-sale component and Bansal, who has invested around ₹4,000 crore into Navi till date, is not diluting his stake in the IPO, according to the report.
The company has appointed ICICI Securities, BofA Securities and Axis Capital to manage its public issue, people close to the development said.
Co-founded and promoted by serial entrepreneur and Flipkart’s Co-Founder Bansal, Navi Technologies is a tech-driven financial products and services company.
In 2019, Navi had acquired Chaitanya India Fin Credit for Rs 739 crore and entered the microfinance section. Chaitanya had additionally utilized for a common banking licence from the Reserve Bank of India (RBI). Navi’s mortgage e-book dimension is about Rs 3,500 crore.
Navi MF had acquired property of Essel MF in 2021. The data from Association of Mutual Funds in India (Amfi) reveals that Navi MF has property of Rs 930 crore as of December quarter.

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