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Navi Finserv Limited NCD (Navi Finserv NCD May 2022) Detail

May 23, 2022 - June 2, 2022
Navi Finserv Limited Logo

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.

Navi Finserv NCD May 2022 Detail

Issue Open May 23, 2022 - June 2, 2022
Security Name Navi Finserv Limited
Security Type Secured, Redeemable, Non-Convertible Debentures (Secured NCDs)
Issue Size (Base) Rs 300.00 Crores
Issue Size (Shelf) Rs 300.00 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 & Research Pvt Ltd
Tenor 18 and 27 Months

Series I to IV

Payment Frequency Monthly and Annually
Basis of Allotment First Come First Serve Basis

NCD Allocation Ratio

Category ? NCD's Allocated
Institutional 20%
Non-Institutional 20%
HNI 30%
Retail 30%

NCD's Offered by Category

Category ? NCD's Reserved
Institutional 600,000
Non-Institutional 600,000
HNI 900,000
Retail 900,000
Total NCD's 3,000,000

Coupon Rates

  Series 1 Series 2 Series 3 Series 4
Frequency of Interest Payment Monthly Annual Monthly Annual
Nature Secured
Tenor 18 months 18 months 27 months 27 months
Coupon Rate 9.20% 9.50% 9.40% 9.75%
Effective Yield (% per Annum) 9.59% 9.57% 9.80% 9.77%
Amount on Maturity Rs 1,000 Rs 1,000 Rs 1,000 Rs 1,000

NCD Rating

The NCDs proposed to be issued under the Issue have been rated as IND A/ Stable by India Ratings & Research Pvt Ltd. The instrument with such a rating is expected to have an adequate degree of safety.

Company Promoters

Navi Technologies Limited is the company promoter.

Company Financials

Summary of financial Information
Particulars For the year/period ended (Rs in Millions)
  31-Dec-21 31-Mar-21 31-Mar-20
Total Assets 37,959.66 33,210.77 36,852.38
Total Revenue 3,188.92 3,367.36 752.27
Profit After Tax -625.89 975.42 97.16

Objects of the Issue

The company proposes to utilise the funds which are being raised through the Issue:

1. For the purpose of onward lending and financing.

2. General corporate purposes.

Navi Finserv NCD May 2022 Prospectus

Navi Finserv NCD May 2022 Subscription Status

The Navi Finserv NCD May 2022 was subscribed 1.69 times on June 2, 2022 5:00:00 PM. The NCD subscribed 0.93 times in Retail, 0.84 times in HNI, 0.68 times in Non-Institutional, and 5.12 times in the Institutional category.

Category ?Subscription (times)

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Company Contact Information

Navi Finserv Limited
Ground Floor, Salarpuria Business Center No 93,
Koramangala Industrial Layout,
Bengaluru 560 095, Karnataka

Phone: +91 89519 04682

Navi Finserv NCD May 2022 Registrar

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

Navi Finserv NCD May 2022 Lead Manager(s)

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