[.]| Listing at BSE, NSE | Mon, May 23, 2022 - Thu, Jun 2, 2022
Navi Finserv Ltd. NCD issue is a public issue of secured, redeemable, non-convertible debenture , issued under a Shelf Prospectus of ₹300.00 Cr with a base issue size of ₹300.00 Cr and an option to retain oversubscription up to ₹[.] Cr, aggregating to a tranch issue size of ₹[.] Cr. The NCDs are offered at a face value ₹1000 each and an issue price of ₹1000 per NCD.
Navi Finserv Ltd. NCD issue opens on May 23, 2022 and closes on Jun 2, 2022. NCD are proposed to be listed on NSE and BSE.
The minimum lot size is 10 NCDs, requiring a minimum investment of ₹ 10,000 , while the market lot for trading is 1 NCD.
The issue offers interest rates ranging from per annum to per annum, depending on the series and tenure selected.
The NCD has been rated: .
A.K.Capital Services Ltd. is the Lead Manager to the issue, is the Debenture Trustee, and MUFG Intime India Pvt.Ltd. is the Registrar to the Issue.
Investors are advised to refer to the NCD Offer Document for detailed information on risk factors, financials, and the terms of the issue.
Open Date
Mon, May 23, 2022
Close Date
Thu, Jun 2, 2022
Issue Size (Overall)
[.]
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 | ||||
| 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 | ||
Navi Technologies Limited is the company promoter.
| Category | Allocated (%) | Shares Reserved |
|---|---|---|
| Institutional | 20.00% | 6,00,000 |
| Non-Institutional | 20.00% | 6,00,000 |
| HNI | 30.00% | 9,00,000 |
| Retail | 30.00% | 9,00,000 |
| Total | 100.00% | 30,00,000 |
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.
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.
[Dilip Davda] NFL is a technology-driven financial services company. Though it marked steady growth till FY21, it posted losses for 9M of FY22 which raises concern. It offers lucrative coupon rates with an A/Stable rating. Cash surplus investors looking for steady long term rewards may consider an investment. Read detail review...
The Navi Finserv NCD May 2022 was subscribed 1.69 times on Jun 02, 2022 17:00. The NCD subscribed 0.93 times in Retail, 0.84 times in HNI, 0.68 times in Non-Institutional, and 5.12 times in Institutional category.
Navi Finserv Ltd.
Ground Floor, Salarpuria Business Center No 93,
Koramangala Industrial Layout,
Bengaluru 560 095, Karnataka
Bengaluru, Karnataka, 560095
NSE and BSE offer NSEgoBid and BSEDirect apps/websites through which retail investors can apply for NCDs up to Rs 5 lakhs. Not all brokers and banks provide the facility to apply for NCD online.
To apply for an NCD online, the investor should fill in the NCD bid details online and provide the details of the DP and bank accounts (ASBA/UPI) as requested. In the case of a UPI application, the investor needs to approve the UPI mandate to complete the application process.
Steps to invest in NCD IPO through GoldenPi
Retail investors can apply for an IPO online if the investment amount is less than or up to 10 lakhs.
Steps to apply for NCD IPO with Indiabonds:
You can buy or invest in NCD IPOs through the following intermediaries:
The investor can apply for the NCD IPO online through NCD intermediaries such as a registered stockbroker, provided the broker offers an online application for the NCD IPO. Not many brokers allow you to invest in an NCD IPO online. Currently, very few brokers, such as Nuvama Wealth, Angel One, and SBI Securities, offer the facility to apply for NCD IPOs electronically. You should check with your broker or intermediary to see if the online application facility for the NCD IPO is available through them.
Refer to the detailed guidelines on NSEgoBID and BSEDirect for information on the registration process and how to apply for NCDs through the exchange.
Important links :
Read more about NCD Application Process.
The minimum amount required for NCD investment is Rs. 10,000.
Generally, the minimum lot size of NCD is 10, and the face value is 1,000.
NCD allotment can be checked on the BSE website or with the Registrar once the allotment has been made.
Steps to check the NCD allotment status at the BSE:
Alternatively, the applicant can also check the allotment status on the respective website of the Registrar for the issue. The applicant will need their PAN details or the applicant's Aadhaar number to check the status.
Generally, all applicants receive full allotment due to the retention of the oversubscription option.
Read more information on NCD Subscription and NCD Allotment Process.
No, you cannot withdraw or redeem Navi Finserv Ltd. NCDs before maturity directly from the company. However, there are a couple of options available if you want to exit early:
If the NCDs are listed on stock exchanges (like BSE/NSE), you can:
Only possible if a "call option" exists.
Read more about NCD Subscription and Allotment Process
Bid Cancellation and Withdrawal Policy for NCD Applicants
Note:
The specific process and conditions for post-closure cancellation vary by issuer. Applicants should refer to the Offer Document for issuer-specific guidelines.
