Navi Technologies IPO: The path of listing in the stock market of Navi Technologies, led by former Flipkart founder Sachin Bansal, has become easier. Navi Technologies will soon come up with an IPO of Rs 3,350 crore. The stock market regulator SEBI has approved Navi Technologies to bring IPO. The company had filed a draft paper (DHRP) with SEBI to bring the IPO with SEBI in March this year.
facts about ipo
Under this issue, completely new shares will be issued and there will be no offer for sale (OFS) in it. This means that Bansal, who has so far invested around Rs 3350 crore in Navi Technologies, is not reducing his stake in the IPO. ICICI Securities, BofA Securities and Axis Capital are handling the IPO.
Know company details
Navi Technologies, co-founded and promoted by Sachin Bansal, is a technology-driven financial products and services provider. According to the company’s website, Navi is a digital lending app, in which loans up to Rs 20 lakh can be taken in a very short time through a paperless process. To enter the microfinance segment, Navi has acquired Chaitanya India Fin Credit in 2019 for Rs 739 crore. Chaitanya has also applied for a Universal Banking License with the Reserve Bank of India (RBI). The company was started three years ago and Sachin Bansal has invested close to Rs 4000 crore in the company.
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