sachin bansal: Sachin Bansal’s Navi Finserv to raise Rs 600 crore through NCDs

israel: Israel's judicial proposals prompt startups to relocate: government agency

Flipkart cofounder Sachin Bansal’s lending startup Navi Finserv is looking to raise Rs 600 crore through non-convertible debentures (NCDs), the company said in a statement on Monday.

The bonds will have tenors of 18, 27 and 36 months with effective yields ranging from 10.4% to 11.19%, it added.

Elevate Your Tech Prowess with High-Value Skill Courses

Offering College Course Website
MIT MIT Technology Leadership and Innovation Visit
IIM Lucknow IIML Executive Programme in FinTech, Banking & Applied Risk Management Visit
IIT Delhi IITD Certificate Programme in Data Science & Machine Learning Visit

NCDs are fixed income long-tenure instruments through which large companies raise public money.

Also read | Home loan, insurance business drag Sachin Bansal’s Navi into slow lane

The company had raised around Rs 950 crore through two tranches of NCDs previously. This tranche will go live on February 26.

“Being a tech-driven financial products and services company… our long-term focus is on utilising technology and data science capabilities to enhance our customer experience, offering them an integrated ecosystem of financial services, while we also continue to increase reach across India and foray into new product lines,” said Sachin Bansal, chief executive officer, Navi Finserv.

Discover the stories of your interest

According to latest filings available in the public domain, Navi Finserv reported a net profit of Rs 172 crore in FY23, on a total income of Rs 1,377 crore. Its total managed assets stood at Rs 9,788 crore at the end of the last fiscal.

Source link

Online Company Registration in India

Leave a Reply

Your email address will not be published. Required fields are marked *