new Delhi. The country’s IPO market is out. One after the other, many companies are bringing their initial public offering ie IPO. Now Flipkart co-founder Sachin Bansal-led financial services company Navi Technologies is also preparing to bring an IPO. The company has filed preliminary documents with the market regulator Securities and Exchange Board of India (SEBI) to raise Rs 3,350 crore through IPO.
Will raise Rs 3,350 crore from the market
As per the draft Red Herring Prospectus ie DRHP, the proposed IPO will be a completely new issue and there is no offer for sale (OFS) in it. Navi Technologies is planning to raise Rs 3,350 crore from the market.
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Bansal invests about Rs 4,000 crore in Navi Technologies
Bansal is not reducing his stake in the IPO. So far, he has invested about 4 thousand crores in Navi Technologies. People associated with the matter said that the IPO is likely to open in June.
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In the year 2018, the company was formed by the co-founder of Flipkart, Sachin Bansal.
Let us tell you that after leaving his first venture Flipkart, Sachin Bansal founded the financial services company Navi Technologies in December 2018 along with his college friend Ankit Agarwal. Navi Lending, General Insurance, Mutual Funds, Micro Financing are in the works.
Tags: Flipkart, IPO
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