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.
BREAKING NEWS
TECHNO TRENDS
Legal Battle Over IT Act Intensifies Amid Musk’s India Plans
The outcome of the legal dispute between X Corp and the Indian government c...
Wipro inks 10-year deal with Phoenix Group's ReAssure UK worth
The agreement, executed through Wipro and its 100% subsidiary,...
Centre announces that DPDP Rules nearing Finalisation by April
The government seeks to refine the rules for robust data protection, ensuri...
Home Ministry cracks down on PoS agents in digital arrest scam
Digital arrest scams are a growing cybercrime where victims are coerced or ...
E-Magazine
TECHNOTAINMENT
Hrithik Roshan to endorse RuPay as Brand Ambassador
RuPay is reportedly planning to feature Bollywood superstar Hrithik Rosha
India Today Group launches – AI Pop Stars
Staying true to our industry leadership position in using cutting-edge tech
MOVERS & SHAKERS
TelioLabs ropes in Phaniraj V A as the Group CEO
TelioLabs has announced the onboarding of Phaniraj V A as its new Group CE
Wipro Appoints Amit Kumar as Managing Partner and Global Head
Wipro Limited (NYSE: WIT, BSE: 507685, NSE: WIPRO), a leading technology s
OPEN YOUR EYES
INTERVIEWS
Cisco building a trusted and resilient future for the nation
Security is foundational to everything Cisco does and customers insist on e
Bolstering its commitment to help build a truly self-reliant B
CP PLUS is dedicated to spreading a sense of security to every corner of In
HOT PICK
MSI Announces the availability of RTX 50 series of laptops in
MSI, the innovative computing manufacturer in gaming, creator
Nothing Phone (3a) goes on sale today, starting at Rs 19,999
The phone was launched on March 4, featuring a 50MP main, ultra-wide, and t
MAKE IN INDIA BRANDS
HAVELLS INDIA LTD.
FIRE BOLTT
TEJAS NETWORKS INDIA PVT. LTD.
DRUVA SOFTWARE PVT. LTD.
EMINENT CIO'S OF INDIA
ICONS OF INDIA
ICONS OF INDIA : S KRISHNAN
S Krishnan as the secretary for the electronics and information techno...
Icons Of India : MADHABI PURI BUCH
Madhabi Puri Buch is the first-female chairperson of India’s markets...
Icons Of India : Puneet Chandok
Puneet Chandok is President, Microsoft India & South Asia and is respo...
PARTNER SPEAKERS
PSU
RailTel Corporation of India Limited
RailTel is a leading telecommunications infrastructure provider in Ind...
STPI - Software Technology Parks of India
STPI promotes and facilitates the growth of the IT and ITES industry i...
BEL - Bharat Electronics Limited
BEL is an Indian Government-owned aerospace and defence electronics co...
VIDEOS
Top 25 Brands
Global Indian industry
Indian Tech Talent Excelling The Tech World - Aneel Bhusri, CEO, Workday
Aneel Bhusri, Co-Founder and Executive Chair at Workday, has been a le...
Indian Tech Talent Excelling The Tech World - Rajiv Ramaswami, President & CEO, Nutanix Technologies
Rajiv Ramaswami, President and CEO of Nutanix, brings over 30 years of...
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...
ITFORUM 2025
CMO of the Year
WOMEN LEADERSHIP
IMAGE GALLERY
TRENDS IN TECHNOLOGY
MORE VIDEOS
ADVERTISEMENTS
TECHNOLOGY DISRUPTION
UNICORNS REVOLUTIONISING
of images belongs to the respective copyright holders
