IPO-bound Navi Technologies to raise INR 600 crore via a public issuance of bonds


IPO-bound Navi Technologies to raise INR 600 crore via a public issuance of bonds in a move that is the first of its kind for a fintech startup in India.


Personal loans, home loans, retail health insurance, and mutual funds are among the financial services and products provided by the Navi group. According to Navi's revised draught red herring prospectus (DRHP), the fintech unicorn will issue secured, redeemable NCDs for INR 300 crore, with an option to retain oversubscription for an additional INR 300 crore, for a total of 6 Mn NCDs for INR 600 Cr. The entire fundraise will be a new issue, which means that Bansal, who has already invested around INR 4,000 Cr in Navi, will not be diluting his stake in the company.

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