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| Issue Size (Base) | ₹300.00 Cr |
| Face Value | ₹1000 each NCD |
| Issue Price | ₹1000 per NCD |
| Market Lot | 1 NCD |
| Min Order Qty | 10 NCD |
| Min Order Amount | ₹10000 |
| Listing at | BSE, NSE |
| Tenor | 18, 27 and 36 months |
| Credit Rating | CRISIL A/Stable by CRISIL. |
| Series | Series I to V |
| Payment Frequency | Monthly and Annually |
Navi Finserv Limited's revenue increased by 153.52% and profit after tax (PAT) rose by 1902.04% between the financial year ending with March 31, 2023 and March 31, 2022.
| Period Ended | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
| Assets | 12,523.95 | 6,312.72 | 4,401.07 |
| Revenue | 2,078.55 | 819.89 | 565.24 |
| Profit After Tax | 264.16 | -14.66 | 118.17 |
| Reserves and Surplus | 2,153.99 | 1,080.52 | 1,010.85 |
| Amount in ₹ Crore | |||
The company intends to utilize the net proceeds from the issue towards the funding of the following objects:
| # | Issue Objects |
|---|---|
| 1 | For the purpose of onward lending, financing, and repayment of existing loans and borrowings of the company. |
| 2 | General corporate purposes. |
| 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) | 10.00% | 10.40% | 10.90% | 10.65% | 11.19% |
| Effective Yield (% per Annum) | 10.47% | 10.91% | 10.94% | 11.19% | 11.19% |
| 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 |
Navi Finserv Limited was founded in February 2012. It is a non-deposit taking, systemically important NBFC registered with the RBI and is a wholly owned subsidiary of NTL. NTL is a technology-driven financial products and services company in India that focuses on the digitally connected young middle class in India. The company offers credit products such as personal loans and home loans under the “Navi” brand.
The company believes that its digital lending process is one of the key differentiators driving business growth. The promoter takes a mobile-first approach and leverages its strong in-house technology and product expertise to develop customer-centric products. The company has entered into an outsourcing agreement with the promoter covering technology-enabled services, cash management and lending, operations, collections and tax. Under the outsourcing agreement, the company's products are distributed exclusively via the Cash Loan App and the Home Loan App, the digital platform developed by the promoter.
The Cash Loan App and Home Loan App, available on the Navi App, provide a user-friendly and engaging experience to personal loan and home loan customers while minimising manual intervention and paperwork.
