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Incorporated in 2012 Navi Finserv Limited is a non-deposit-taking, systemically important NBFC company registered with the RBI. It is a wholly-owned subsidiary of Navi Technologies Limited.
The company offers services such as digital personal loans, home loans and real estate loans through its mobile application Navi app. Navi Finserv Limited was previously known as Chaitanya Rural Intermediation Development Services Private Limited.
The company operates a mobile-first app model for personal loans and home loans through the Navi app. The company has also developed its own cloud-native platform for real-time lending partnerships, the Navi Lending Cloud. It enables lending partners to evaluate customers and define loan parameters in real time. It also facilitates the real-time settlement of collection payments to co-lenders and reconciliation management. For direct portfolio allocation, it enables simple and seamless pool selection and due diligence.
| Issue Open | February 26, 2024 - March 7, 2024 |
| Security Name | Navi Finserv Limited |
| Security Type | Secured, Redeemable, Non-Convertible Debentures (Secured NCDs) |
| Issue Size (Base) | Rs 300.00 Crores |
| Issue Size (Oversubscription) | Rs 300.00 Crores |
| Overall Issue Size | Rs 600.00 Crores |
| Issue Price | Rs 1000 per NCD |
| Face Value | Rs 1000 each NCD |
| Minimum Lot size | 10 NCD |
| Market Lot | 1 NCD |
| Listing At | BSE, NSE |
| Credit Rating | CRISIL A/Stable by CRISIL. |
| Tenor | 18, 27 and 36 months |
| Series | Series I to V |
| Payment Frequency | Monthly and Annually |
| Basis of Allotment | First Come First Serve Basis |
| Debenture Trustee/s | Catalyst Trusteeship Limited |
Category  |
NCD's Allocated |
|---|---|
| Institutional | 20% |
| Non-Institutional | 25% |
| HNI | 25% |
| Retail | 30% |
| Category |
NCD's Reserved |
|---|---|
| Institutional | 600,000 |
| Non-Institutional | 750,000 |
| HNI | 750,000 |
| Retail | 900,000 |
| Total NCD's | 3,000,000 |
Navi Finserv Limited NCD Coupon Rates
| # | Series 1 | Series 2 | Series 3 | Series 4 | Series 5 |
|---|---|---|---|---|---|
| Frequency of Interest Payment | Monthly | Monthly | Annual | Monthly | Annual |
| Nature | Secured | Secured | Secured | Secured | Secured |
| Tenor | 18 Months | 27 Months | 27 Months | 36 Months | 36 Months |
| Coupon (% per Annum) | 10.00% | 10.40% | 10.90% | 10.65% | 11.19% |
| Effective Yield (% per Annum) | 10.47% | 10.91% | 10.94% | 11.19% | 11.19% |
| Amount on Maturity (In Rs.) | Rs 1,000.00 | Rs 1,000.00 | Rs 1,000.00 | Rs 1,000.00 | Rs 1,000.00 |
Navi Finserv Limited's revenue increased by 153.52% and profit after tax (PAT) rose by 1902.04% between the financial year ending with March 31, 2023 and March 31, 2022.
| Period Ended | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
| Assets | 12,523.95 | 6,312.72 | 4,401.07 |
| Revenue | 2,078.55 | 819.89 | 565.24 |
| Profit After Tax | 264.16 | -14.66 | 118.17 |
| Reserves and Surplus | 2,153.99 | 1,080.52 | 1,010.85 |
| Amount in ₹ Crore | |||
The company intends to utilize the net proceeds from the issue towards the funding of the following objects:
The Navi Finserv NCD February 2024 was subscribed 2.03 times on March 7, 2024 6:00:00 PM. The NCD subscribed 1.03 times in Retail, 1.12 times in HNI, 4.71 times in Non-Institutional, and 1.28 times in the Institutional category.
| Category ? | Subscription (times) |
|---|---|
| Retail | 1.03x |
| HNI | 1.12x |
| Non-Institutional | 4.71x |
| Institutional | 1.28x |
| Total | 2.03x |
15 3.4 Rating:  Vote Here ... |
Navi Finserv Limited
Second Floor, Vaishnavi Tech Square,
Iballur Village, BegurHobli,
Bengaluru, Karnataka - 560 102
Phone: 080 45113400
Email: secretarial@navi.com
Website: http://www.navi.com/finserv
Link Intime India Private Ltd
Link Intime India Private Ltd
C 101, 247 Park, L.B.S.Marg,
Vikhroli (West), Mumbai - 400083
Phone: +91-22-4918 6270
Email: navi.ncd2024@jmfl.com
Website: https://linkintime.co.in/initial_offer/public-issues.html
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