navi:  Bansal’s Navi Tech set to file for Rs 4,000 crore IPO - Times of India

navi: Bansal’s Navi Tech set to file for Rs 4,000 crore IPO – Times of India

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BENGALURU: Flipkart co-founder Sachin Bansal’s Navi Technologies is expected to file its draft papers for a Rs 4,000 crore IPO with market regulator Sebi in the next few days, sources told TOI. The company plans to go public in June. The digital fintech lender’s portfolio includes personal loans, home loans, insurance and microfinance loans.
The public issue will entirely be through fresh issuance of equity shares and there will not be any offer-for-sale (OFS) component. Navi is said to have appointed ICICI Securities, BofA Securities and Axis Capital as bankers for the IPO process. An email sent to Navi did not elicit a response.
Bansal has invested Rs 4,000 crore into Navi till date. It has a lending book of over Rs 3,500 crore. The company is looking to become a full-service financial services company, with products across the financial spectrum. It has a strong in-house technology and product team, and provides digital-first distribution for its products.
In 2019, Navi had acquired Chaitanya India Fin Credit for over Rs 700 crore to foray into microfinance. It has applied to the RBI for a banking licence.



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