Navi Finserv NCD July 2023

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 OpenJul 10, 2023 – Jul 13, 2023
Security NameNavi Finserv Limited
Security TypeSecured, 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 Size10 NCD
Market Lot1 NCD
Listing AtBSE, NSE
Credit RatingIND A/ Stable by India Ratings & CRISIL 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 monthsMonthly9.75%10.18%INR 1,000
Series 227 monthsMonthly10.25%10.73%INR 1,000
Series 327 monthsAnnual10.75%10.78%INR 1,000
Series 436 monthsMonthly10.50%11.01%INR 1,000
Series 536 monthsAnnual11.02%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 EndedTotal AssetsTotal RevenueProfit After Tax
(Amount in ₹ Crore)

NCD Allocation Ratio

Category NCD’s Allocated

Company Promoters

  • Navi Technologies Limited

NCD Lead Manager

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

NCD 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

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

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