IPO of about Rs 4,000 Cr eyed by Navi Technologies

• ByStartupStory     |    March 7, 2022

Navi Technologies, a second venture by Sachin Bansal was launched on December 10, 2018. It is an ambitious foray with technology as the underlying catalyst, in order to build the most disruptive financial services company. 

Over the years, a personal capital of about Rs 4,000 crore has been invested by Sachin in the fintech major. Navi’s revenues as compared to  Rs 199 crore as reported in FY 2020 jumped over 3.9 times to Rs 779 crore in FY 2021. Against the loss of Rs 8.07 crore in the previous fiscal, a profit of Rs 71.2 crore was reported in FY 2021.

Navi is now on course for a Rs 4,000-crore IPO (initial public offering) with its rapid and profitable growth. This would enable Navi to meet the Reserve Bank of India (RBI) norms for non-banking financial services companies (NBFC) on the capital adequacy and solvency capital for adherence to RBI norms for NBFCs on liquidity risk management framework.

Earlier this year, Navi converted itself to a public limited company and has also engaged investment bankers in order to drive the IPO. Giving Navi the leverage to borrow more and lend a lot more in the process, the IPO proceeds will work as the growth capital.

Since its inception, Investors have been found by Navi in Gaja Capital and HDFC Bank veteran Paresh Sukthankar. In last August, Navi roped in Anand Sinha, ex-deputy governor of Reserve Bank of India on its board, while ICICI Bank Veteran, Nachiket Mor has also been associated with the company. 

On the business front, personal loans, home loans, and microfinance, along with other financial services’ businesses in the insurance and mutual funds segment has also been comprised un the landing book of Navi which worths Rs 3,500 crore. 

Follow Startup Story