Navi Finserv NCD – February 2024

Navi Finserv NCD opens for subscription on 26 February 2024. The company aims for a base issue size of ₹300 Crores.

About the company

Incorporated in 2012, Navi Finserv is a non-deposit-taking, systemically important NBFC registered with RBI and a wholly owned subsidiary of NTL. NTL is a technology-driven financial products and services company in India, focusing on the digitally connected young middle-class population. The company offers lending products like personal loans and home loans under the ‘Navi’ brand. It also offers microfinance loans, under the ‘Chaitanya’ brand through the Subsidiary, CIFCPL. The company launched personal loans and home loan products under the ‘Navi’ brand in April 2020 and February 2021. Under this business, the personal loans extend instant personal loans up to INR 2.0 million with tenors of up to 84 months through an entirely digital Navi App-only process.

As of 30 September 2023, the company has disbursed 3,671,272 personal loans amounting to INR 21,532.13 crore. During the six months ended 30 September 2023, Navi Finserv disbursed 1,010,761 personal loans amounting to INR 6,136.15 crore, with an average ticket size of INR 60,708. From the date of the launch, the company has approved personal loans to customers across over 99.69% of all Indian pin codes. As of 30 September 2023, the company’s personal loans business had an AUM of INR 6,763.58 crore.

As of 31 March 2023, the company had disbursed home loans across 10 cities in India. The company offers loans up to INR 10 crore with a tenor of up to 40 years. As of 30 September 2023, the company had an AUM of INR 725.76 crore. Since its launch, Navi Finserv has disbursed loans amounting to INR 1,178.56 crore, with an average ticket size of INR 0.62 crore during the six months ending 30 September 2023. Its microfinance loan business is carried out through the Subsidiary, CIFCPL, to extend credit to low-income women in rural and semi-rural areas across India.

Objectives of the Issue

  • For onward lending, financing, and repayment of existing loans and borrowings of the company.
  • General corporate purposes.

Navi Finserv NCD Details

Issue OpenFebruary 26, 2024 – March 7, 2024
Security NameNavi Finserv Limited
Security TypeSecured, Redeemable, Non-Convertible Debentures (Secured NCDs)
Issue Size (Base)₹ 300 Crores
Issue Size (Oversubscription)₹ 300 Crores
Overall Issue Size₹ 600 Crores
Issue Price
Face Value₹ 1000 each NCD
Minimum Lot size10 NCD
Market Lot1 NCD
Listing AtBSE, NSE
Credit RatingCRISIL A/Stable by CRISIL.
Tenor18, 27 and 36 months
SeriesSeries I to V
Payment FrequencyMonthly and Annually
Basis of AllotmentFirst Come First Serve Basis
Debenture Trustee/sCatalyst Trusteeship Limited

Navi Finserv NCD Options and Coupon Rates

OptionTenureInterest PaymentCoupon RateEffective YieldMaturity Amount
Series 118 monthsMonthly10.00%10.47%₹ 1,000
Series 227 monthsMonthly10.40%10.91%₹ 1,000
Series 327 monthsAnnual10.90%10.94%₹ 1,000
Series 436 monthsMonthly10.65%11.19%₹ 1,000
Series 536 monthsAnnual11.19%11.19%₹ 1,000

Navi Finserv NCD Rating

The NCDs proposed to be issued under this Issue have been rated CRISIL A/Stable by CRISIL.

Navi Finserv Company Financials

Period Ended31 Mar 202331 Mar 202231 Mar 2021
Profit After Tax264.16-14.66118.17
Reserves and Surplus2,153.991,080.521,010.85
(Amount in ₹ Crore)

Navi Finserv NCD Allocation Ratio

Category NCD’s Allocated

Company Promoters

  • Navi Technologies Limited

Navi Finserv NCD Lead Manager

7th Floor, Cnergy, Appasaheb Marathe Marg,
Prabhadevi Mumbai – 400 025
Phone: +91 22 6630 3030

Navi Finserv Registrar

C-101, 1st Floor, 247 Park
L.B.S. Marg, Vikhroli West
Mumbai – 400 083, Maharashtra
Phone: +918108114949

Company Contact Details

Second Floor, Vaishnavi Tech Square,
Iballur Village, Begur Hobli, Bengaluru 560 102, Karnataka
Phone: 080 45113400

Final Thoughts

Non-convertible debentures (NCDs) are a better investment option for those who are looking for a diversified portfolio. investing in Navi Finserv NCD is purely your personal choice. make a good study and analysis before you make the investment decision.

Happy Investing

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