Navi Finserv NCD opens for subscription from 10 July 2023. the company aims for a base issue size of ₹250 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 Navi Technologies Limited (NTL). NTL is a technology-driven financial products and services company in India focusing on the digitally connected young middle-class population of India. 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 31 March 2023, the company had disbursed home loans across 10 cities in India. It offers loans up to INR 100 million with tenors of up to 30 years. As of 31 March 2023, the company’s personal loans business had an AUM of INR 6,161.90 crore, and the home loans business had an AUM of INR 627.24 crore.
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. As of 31 March 2023, the Subsidiary’s microfinance business had a closing AUM of INR 3,840.55 crore.
Objectives of the Issue
- For the purpose of onward lending, financing, and repayment of existing loans and borrowings of the company.
- General corporate purposes.
Navi Finserv NCD July 2023 Details
| Issue Open | Jul 10, 2023 – Jul 13, 2023 |
| Security Name | Navi Finserv Limited |
| Security Type | Secured, Redeemable, Non-Convertible Debentures (Secured NCDs) |
| Issue Size (Base) | ₹250 Crores |
| Issue Size (Shelf) | ₹500 Crores |
| Issue Price | ₹1000 per NCD |
| Face Value | ₹1000 for each NCD |
| Minimum Lot Size | 10 NCD |
| Market Lot | 1 NCD |
| Listing At | BSE, NSE |
| Credit Rating | IND A/ Stable by India Ratings & 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 |
Navi Finserv NCD – Options and Coupon Rates
| Option | Tenure | Interest Payment | Coupon Rate | Effective Yield | Maturity Amount |
| Series 1 | 18 months | Monthly | 9.75% | 10.18% | INR 1,000 |
| Series 2 | 27 months | Monthly | 10.25% | 10.73% | INR 1,000 |
| Series 3 | 27 months | Annual | 10.75% | 10.78% | INR 1,000 |
| Series 4 | 36 months | Monthly | 10.50% | 11.01% | INR 1,000 |
| Series 5 | 36 months | Annual | 11.02% | 11.01% | INR 1,000 |
NCD Rating
The NCDs proposed to be issued under the Issue have been rated as IND A/ Stable by India Ratings & CRISIL A/Stable by CRISIL Ratings Limited. The instrument with such a rating is expected to have an adequate degree of safety.
Company Financials
| Period Ended | Total Assets | Total Revenue | Profit After Tax |
|---|---|---|---|
| 31-Mar-21 | 4,402.09 | 565.24 | 118.17 |
| 31-Mar-22 | 6,312.72 | 819.89 | -14.66 |
| 31-Mar-23 | 12,523.95 | 2,078.55 | 264.16 |
NCD Allocation Ratio
Company Promoters
- Navi Technologies Limited
NCD Lead Manager
JM FINANCIAL LIMITED
7th Floor, Cnergy, Appasaheb Marathe Marg,
Prabhadevi Mumbai – 400 025
Phone: +91 22 6630 3030
Email: nfl.ncdissue2023@jmfl.com
Website: jmfl.com
NCD Registrar
LINK INTIME INDIA PRIVATE LIMITED
C-101, 1st Floor, 247 Park
L.B.S. Marg, Vikhroli West
Mumbai – 400 083, Maharashtra
Phone: +918108114949
Email: navifinserv.ncd2@linkintime.co.in
Website: www.linkintime.co.in
Company Contact Details
NAVI FINSERV LIMITED
Second Floor, Vaishnavi Tech Square,
Iballur Village, Begur Hobli, Bengaluru 560 102, Karnataka
Phone: 080 45113400
Email: corporate_finserv@navi.com
Website: www.navi.com/finserv
Navi Finserv NCD Allotment Status
Navi Finserv NCD July 2023 allotment status will be available on Link Intime’s website. Click on this link to get allotment status.
Final Thoughts
Non-Convertible Debentures (NCD) 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.
Happy Investing
