SEBI approves Navi Technologies’ Rs 3,350 crore IPO
By MYBRANDBOOK
The Securities and Exchange Board of India (SEBI) has approved Sachin Bansal’s fintech startup Navi Technologies for an Initial Public Offering (IPO). In March this year, Navi Technologies submitted draft papers to SEBI in order to raise up to Rs 3,350 crore through a fresh issue of shares.
According to the DRHP, the fintech company plans to invest the proceeds of the IPO in Navi Finserv and Navi General Insurance companies in addition to general expansion goals. The IPO will not have an offer for sale by shareholders.
Navi Technologies is a tech-driven financial products and services company. Since the company’s founding, it has increased its product offerings to include mutual funds, general insurance, house loans, and personal loans. Additionally, it provides microloans via Chaitanya India Fin Credit.
Bansal, who holds a 97.39 percent stake in the fintech, founded Navi Technologies, six months after quitting from Flipkart. “We are trying to work backwards and see what a bank for a billion people looks like. It has to be a lot more automated, things have to be a lot more simple, users should be able to help themselves. Banking should be as easy as going on Swiggy and ordering food,” he said.
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
Autodesk continually pushing the boundaries in the Design and
Autodesk’s vision is of a better world designed and made for all. It inte
Acer addresses evolving customer needs by consistently pushing
Acer offers a comprehensive range of products under one roof, including des
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
LENOVO INDIA PVT. LTD.
LUMINOUS POWER TECHNOLOGIES PVT. LTD.
LAVA INTERNATIONAL LTD.
MATRIX COMSEC PVT. LTD.
EMINENT CIO'S OF INDIA
ICONS OF INDIA
ICONS OF INDIA : SUNIL VACHANI
Sunil Vachani is the Chairman of Dixon Technologies (India) Ltd. Under...
ICONS OF INDIA : RISHAD PREMJI
Rishad Premji is Executive Chairman of Wipro Limited, a $11.3 billion ...
Icons Of India : NATARAJAN CHANDRASEKARAN
Natarajan Chandrasekaran (Chandra) is the Chairman of Tata Sons, the h...
PARTNER SPEAKERS
PSU
ECIL - Electronics Corporation of India Limited
ECIL is distinguished by its diverse technological capabilities and it...
NPCI - National Payments Corporation of India
NPCI is an umbrella organization for operating retail payments and set...
IREDA - Indian Renewable Energy Development Agency Limited
IREDA is a specialized financial institution in India that facilitates...
VIDEOS
Top 25 Brands
Global Indian industry
Indian Tech Talent Excelling The Tech World - Dheeraj Pandey, CEO, DevRev
Dheeraj Pandey, Co-founder and CEO at DevRev , has a remarkable journe...
Indian Tech Talent Excelling The Tech World - George Kurian, CEO, Netapp
George Kurian, the CEO of global data storage and management services ...
Indian Tech Talent Excelling The Tech World - NIKESH ARORA, Chairman CEO - Palo Alto Networks
Nikesh Arora, the Chairman and CEO of Palo Alto Networks, is steering ...
STARNITE AWARDS 2024
ITFORUM 2024
CMO of the Year
WOMEN LEADERSHIP
IMAGE GALLERY
.jpg)
TRENDS IN TECHNOLOGY
MORE VIDEOS
ADVERTISEMENTS
TECHNOLOGY DISRUPTION
UNICORNS REVOLUTIONISING
