Navi Technologies to file for Rs 4,000-crore IPO soon
By MYBRANDBOOK
Sachin Bansal's Navi Technologies is set to file its draft papers with the markets regulator for a Rs 4,000-crore initial public offering later this week. According to the current plans, the company plans to launch its IPO in June.
The public issue will be entirely through an issuance of new shares, with no offer-for-sale component, implying that Bansal will not sell shares to investors in the planned IPO. Navi is said to have around three million monthly active users, and disbursed personal loans to the tune of Rs 500 crore last month.
Bansal has invested Rs 4,000 crore of his own capital in Navi and is likely to retain majority control in the firm even after the IPO. Besides him, Ankit Agarwal, Co-Founder and Chief Financial Officer at Navi, and Paresh Sukhtankar, Former Deputy Managing Director at HDFC Bank, hold stakes in the Bengaluru-based firm.
The IPO is expected to help Navi in supporting its growth in personal loans, microfinancing, in addition to its mutual fund business. Further, Navi is said to use the money to fuel its growth plans which include building a loan book of Rs 20,000 crore in the next two years and in the same period, raising about Rs 15,000 crore as debt from the public markets.
Navi is tapping the public markets to feed its fast-growing businesses in person in personal loans and microfinancing (Chaitanya Credit), besides its own mutual fund business.
BREAKING NEWS
TECHNO TRENDS
Nazara and ONDC set to transform in-game monetization with ‘
Nazara Technologies has teamed up with the Open Network for Digital Comme...
Jio Platforms and NICSI to offer cloud services to government
In a collaborative initiative, the National Informatics Centre Services In...
BSNL awards ₹5,000 Cr Project to RVNL-Led Consortium
A syndicate led by Rail Vikas Nigam Limited (abbreviated as RVNL), along wi...
Pinterest tracks users without consent, alleges complaint
A recent complaint alleges that Pinterest, the popular image-sharing platf...
E-Magazine
TECHNOTAINMENT
Netflix adds 'Moments' feature for saving, sharing scenes from
Netflix has introduced a new “Moments” feature on its mobile app, whic
Jacqueline Fernandez come together with YouTuber Mr. Beast for
Jacqueline Fernandez has partnered with American YouTuber Mr. Beast to b
MOVERS & SHAKERS
Visa elevates Rishi Chhabra as new Country Manager for India
Rishi holds a Master’s in Industrial Engineering from The Ohio State Univ
Genesys welcomes Albert Nel as Senior VP and Regional Sales Le
Genesys continues to deepen its investment in the APAC region. Earlier this
OPEN YOUR EYES
INTERVIEWS
Cisco building a trusted and resilient future for the nation
Security is foundational to everything Cisco does and customers insist on e
Alcatel-Lucent Enterprise Carrying a 100 year legacy ahead
A good amount of R&D works and global support services are operated out of
HOT PICK
SonicWall Launches TZ80: A Powerful Solution for Remote Office
SonicWall announced today the launch of the TZ80, a groundbreaking securit
Gigabyte X3D Turbo: A Gaming Revolution
GIGABYTE X3D Turbo Mode is a cutting-edge feature that unifies cores distr
MAKE IN INDIA BRANDS
TP-LINK INDIA PVT. LTD.
STERLITE TECHNOLOGIES LTD.
EXIDE INDUSTRIES LTD.
LAVA INTERNATIONAL LTD.
EMINENT CIO'S OF INDIA
ICONS OF INDIA
SHAKTIKANTA DAS
Shaktikanta Das is serving as the current & 25th governor of the Reser...
ICONS OF INDIA : SACHIN BANSAL
Sachin Bansal is an Indian entrepreneur. He is best known as the found...
ICONS OF INDIA : RISHAD PREMJI
Rishad Premji is Executive Chairman of Wipro Limited, a $11.3 billion ...
PARTNER SPEAKERS
PSU
BEL - Bharat Electronics Limited
BEL is an Indian Government-owned aerospace and defence electronics co...
DRDO - Defence Research and Development Organisation
DRDO responsible for the development of technology for use by the mili...
HPCL - Hindustan Petroleum Corporation Ltd.
HPCL is an integrated oil and gas company involved in refining, market...
VIDEOS
Top 25 Brands
Global Indian industry
Indian Tech Talent Excelling The Tech World - Rajiv Ramaswami, President & CEO, Nutanix Technologies
Rajiv Ramaswami, President and CEO of Nutanix, brings over 30 years of...
Indian Tech Talent Excelling The Tech World - Steve Sanghi, Executive Chair, Microchip
Steve Sanghi, the Executive Chair of Microchip Technology, has been a ...
Indian Tech Talent Excelling The Tech World - RAVI KUMAR S, CEO- Cognizant
Ravi Kumar S, appointed as CEO of Cognizant in January 2023, sets the ...
STARNITE AWARDS 2024
ITFORUM 2024
CMO of the Year
WOMEN LEADERSHIP
IMAGE GALLERY
TRENDS IN TECHNOLOGY
MORE VIDEOS
ADVERTISEMENTS
TECHNOLOGY DISRUPTION
UNICORNS REVOLUTIONISING
