Founded in 2012, Navi Finserv Limited specializes in delivering comprehensive Financial Services. The company’s portfolio encompasses Digital Personal Loans, Housing Loans, and Loans Against Property, all seamlessly accessible through its innovative mobile application, the Navi app. Recognized as a non-deposit taking NBFC and holding registration with the RBI, Navi Finserv Limited proudly operates as a wholly owned subsidiary of Navi Technologies Limited, previously known as Chaitanya Rural Intermediation Development Services Private Limited.
Distinguished by its mobile-first and app-exclusive approach, Navi Finserv Limited offers a streamlined avenue for securing personal loans and home loans, centered around the user-friendly Navi App.
Demonstrating an extensive reach, Navi Finserv Limited’s personal loan approvals span an impressive 84% of India’s diverse pin codes. Moreover, as of December 31, 2021, the company has successfully disbursed home loans across eight key cities within India, further solidifying its impactful presence within the financial landscape.
Navi Finserv NCD July 2023 Detail #
| Issue Open | Jul 10, 2023 – Jul 13, 2023 |
| Security Name | Navi Finserv Limited |
| Security Type | Secured, Redeemable, Non-Convertible Debentures (Secured NCDs) |
| Issue Size (Base) | Rs 250.00 Crores |
| Issue Size (Shelf) | Rs 500.00 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 | IND A/ Stable by India Ratings & 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 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) | 9.75% | 10.25% | 10.75% | 10.50% | 11.02% |
| Effective Yield (% per Annum) | 10.18% | 10.73% | 10.78% | 11.01% | 11.01% |
| 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 |
NCD Rating #
The NCDs proposed to be issued under the Issue have been rated as IND A/ Stable by India Ratings & CRISIL A/Stable by CRISIL Ratings Limited. The instrument with such a rating is expected to have an adequate degree of safety.
Company Promoters #
Navi Technologies Limited is the company promoter.
Company Financials #
| Period Ended | Total Assets | Total Revenue | Profit After Tax |
|---|---|---|---|
| 31-Mar-21 | 4,402.09 | 565.24 | 118.17 |
| 31-Mar-22 | 6,312.72 | 819.89 | -14.66 |
| 31-Mar-23 | 12,523.95 | 2,078.55 | 264.16 |
| Amount in ₹ Crore | |||
Objects of the Issue #
The company proposes to utilize the funds which are being raised through the Issue towards the following objectives:
1. For the purpose of onward lending, financing, and repayment of existing loans and borrowings of the company.
2. General corporate purposes.
Navi Finserv NCD July 2023 Prospectus #
Navi Finserv NCD July 2023 Subscription Status #
The Navi Finserv NCD July 2023 was subscribed 2.02 times on Jul 13, 2023 5:00:00 PM. The NCD subscribed 3.04 times in Retail, 1.54 times in HNI, 1.74 times in Non-Institutional, and 1.50 times in the Institutional category.
| Category ? | Subscription (times) |
|---|---|
| Retail | 3.04x |
| HNI | 1.54x |
| Non-Institutional | 1.74x |
| Institutional | 1.50x |
| Total | 2.02x |
Check Day by Day Bidding Details
Company Contact Information #
Second Floor, Vaishnavi Tech Square,
Iballur Village, Begur Hobli,
Bengaluru – 560 102Phone: 080 45113400
Email: corporate_finserv@navi.co
Website: http://www.navi.com/finserv
Navi Finserv NCD July 2023 Registrar #
Link Intime India Private Ltd
Link Intime India Private Ltd
C 101, 247 Park, L.B.S.Marg,
Vikhroli (West), Mumbai – 400083
Phone: +91-22-4918 6270
Email: navifinserv.ncd2@linkintime.co.in
Website: https://linkintime.co.in/mipo/ipoallotment.html
