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Incorporated in 2012, Navi Finserv Limited is engaged in the business of providing Financial Services. The company offers services such as Digital Personal Loans, Housing Loans and Loans Against Property through its mobile application Navi app. Navi Finserv Limited is a non-deposit taking NBFC registered with RBI and is a wholly owned subsidiary of Navi Technologies Limited. Navi Finserv Limited was previously known as Chaitanya Rural Intermediation Development Services Private Limited.
The company operate a mobile-first, app-only model for personal loans and home loans through the Navi App.
Navi Finserv Limited has approved personal loans to customers across 84% of all Indian pin codes and as of December 31, 2021, the company had disbursed home loans across 8 cities in India.
| Issue Open | July 10, 2023 - July 13, 2023 |
| Security Name | Navi Finserv Limited |
| Security Type | Secured, Redeemable, Non-Convertible Debentures (Secured NCDs) |
| Issue Size (Base) | Rs 250.00 Crores |
| Issue Size (Shelf) | Rs 500.00 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 | 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 |
Category  |
NCD's Allocated |
|---|---|
| Institutional | 20% |
| Non-Institutional | 20% |
| HNI | 30% |
| Retail | 30% |
| Category |
NCD's Reserved |
|---|---|
| Institutional | 750,000 |
| Non-Institutional | 0 |
| HNI | 0 |
| Retail | 0 |
| Total NCD's | 2,500,000 |
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) | 9.75% | 10.25% | 10.75% | 10.50% | 11.02% |
| Effective Yield (% per Annum) | 10.18% | 10.73% | 10.78% | 11.01% | 11.01% |
| 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 |
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.
Navi Technologies Limited is the company promoter.
| 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 |
| Amount in ₹ Crore | |||
The company proposes to utilize the funds which are being raised through the Issue towards the following objectives:
1. For the purpose of onward lending, financing, and repayment of existing loans and borrowings of the company.
2. General corporate purposes.
The Navi Finserv NCD July 2023 was subscribed 2.02 times on July 13, 2023 5:00:00 PM. The NCD subscribed 3.04 times in Retail, 1.54 times in HNI, 1.74 times in Non-Institutional, and 1.50 times in the Institutional category.
| Category ? | Subscription (times) |
|---|---|
| Retail | 3.04x |
| HNI | 1.54x |
| Non-Institutional | 1.74x |
| Institutional | 1.50x |
| Total | 2.02x |
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Navi Finserv Limited
Second Floor, Vaishnavi Tech Square,
Iballur Village, Begur Hobli,
Bengaluru - 560 102
Phone: 080 45113400
Email: corporate_finserv@navi.co
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: navifinserv.ncd2@linkintime.co.in
Website: https://linkintime.co.in/initial_offer/public-issues.html
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