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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 | May 23, 2022 - Jun 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 | Series I to IV |
| Payment Frequency | Monthly and Annually |
| Basis of Allotment | First Come First Serve Basis |
Category  |
NCD's Allocated |
|---|---|
| Institutional | 20% |
| Non-Institutional | 20% |
| HNI | 30% |
| Retail | 30% |
| 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 | ||||
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.
Navi Technologies Limited is the company promoter.
| 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 | ||
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.
The Navi Finserv NCD May 2022 was subscribed 1.69 times on Jun 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) |
|---|---|
| Retail | 0.93x |
| HNI | 0.84x |
| Non-Institutional | 0.68x |
| Institutional | 5.12x |
| Total | 1.69x |
16 3.3 Rating:  Vote Here ... |
Navi Finserv Limited
Ground Floor, Salarpuria Business Center No 93,
Koramangala Industrial Layout,
Bengaluru 560 095, Karnataka
Phone: +91 89519 04682
Email: corporate_finserv@navi.com
Website: https://www.navifinserv.com/
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.ncd@linkintime.co.in
Website: https://linkintime.co.in/
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