Navi Technologies to file for Rs 4,000-crore IPO soon
By MYBRANDBOOK
Sachin Bansal's Navi Technologies is set to file its draft papers with the markets regulator for a Rs 4,000-crore initial public offering later this week. According to the current plans, the company plans to launch its IPO in June.
The public issue will be entirely through an issuance of new shares, with no offer-for-sale component, implying that Bansal will not sell shares to investors in the planned IPO. Navi is said to have around three million monthly active users, and disbursed personal loans to the tune of Rs 500 crore last month.
Bansal has invested Rs 4,000 crore of his own capital in Navi and is likely to retain majority control in the firm even after the IPO. Besides him, Ankit Agarwal, Co-Founder and Chief Financial Officer at Navi, and Paresh Sukhtankar, Former Deputy Managing Director at HDFC Bank, hold stakes in the Bengaluru-based firm.
The IPO is expected to help Navi in supporting its growth in personal loans, microfinancing, in addition to its mutual fund business. Further, Navi is said to use the money to fuel its growth plans which include building a loan book of Rs 20,000 crore in the next two years and in the same period, raising about Rs 15,000 crore as debt from the public markets.
Navi is tapping the public markets to feed its fast-growing businesses in person in personal loans and microfinancing (Chaitanya Credit), besides its own mutual fund business.
Singapore to remove One-Time Passwords from Bank Accounts
According to the Monetary Authority of Singapore, clients who utilise secur...
Is 375 million Airtel subscribers database breached?
When a hacker claims to have accessed and put up for sale a customer databa...
The government of India intends to construct a single portal f
A single portal will be launched by the Indian government to list all of it...
OpenAI offers GPT-4o, a faster model available to all users at
GPT-4o, a faster and more sophisticated AI model, is made available to all...
Icons Of India : ALOK OHRIE
Alok Ohrie leads Dell Technologies’ India business, overseeing Sales...
Icons Of India : Arjun Malhotra
Arjun Malhotra, the Chairman of Magic Software Inc., is widely recogni...
Icons Of India : Arundhati Bhattacharya
Arundhati Bhattacharya serves as the Chairperson and CEO of Salesforce...
NSE - National Stock Exchange
NSE is the leading stock exchange in India....
CERT-IN - Indian Computer Emergency Response Team
CERT-In is a national nodal agency for responding to computer security...
PFC - Power Finance Corporation Ltd
PFC is a leading financial institution in India specializing in power ...
Indian Tech Talent Excelling The Tech World - ANJALI SUD, CEO – Tubi
Anjali Sud, the former CEO of Vimeo, now leads Tubi, Fox Corporation...
Indian Tech Talent Excelling The Tech World - Satya Nadella, Chairman & CEO- Microsoft
Satya Nadella, the Chairman and CEO of Microsoft, recently emphasized ...
Indian Tech Talent Excelling The Tech World - Vinod Dham, Founder & Executive Managing Partner, IndoUS Venture Partners
Vinod Dham, known as the “Father of the Pentium Chip,” has left an...