The Non-Convertible Debentures issued by Navi Finserv Limited starts from July 10th, 2023 to July 21st, 2023. This NCD has been rated ‘IND A/ Stable’ by India Ratings & ‘CRISIL A/Stable’ by CRISIL.
Five separate series of NCDs are being issued, with terms varying from 18 months to 36 months and coupons ranging from 10.18 % p.a. to 11.01 % p.a. The maximum amount the company hopes to raise is Rs 500 crore with a Face value of Rs. 1000 each NCD and a minimum lot size of 10 NCD. The NCDs have a redeemable and secure nature. Let’s investigate more details and get into greater detail about this NCD issue.
About Navi Finserv Limited
Navi Finserv Limited, established in 2012, specializes in providing Financial Services. Through their mobile application, Navi app, they offer Digital Personal Loans, Housing Loans, and Loans Against Property. As a registered non-deposit taking NBFC under RBI, they operate as a wholly owned subsidiary of Navi Technologies Limited. Formerly known as Chaitanya Rural Intermediation Development Services Private Limited, Navi Finserv follows a mobile-first, app-only approach for personal and home loans. They have approved personal loans in 84% of Indian pin codes and have disbursed home loans in 8 cities as of December 31, 2021.
Navi Finserv Limited NCD 2023 – Issue Details
| Issue Type | Secured, Redeemable, Non-Convertible Debentures |
| Issue Company | Navi Finserv Limited |
| Issue Open | July 10th, 2023 |
| Issue Close | July 21st, 2023 |
| Coupon Rate (ROI) | 10.18 % p.a. to 11.01 % p.a. |
| Face Value | Rs. 1000 |
| Issue Price | Rs. 1000 |
| Issue Size | Base – Rs. 250 Cr., Shelf – Rs. 500 Cr. |
| Minimum Order Quantity | 10 NCDs (Rs. 10,000) |
| Listing | BSE, NSE |
| Listing Date | Within 6 Working Days of Issue Closing Date |
Navi Finserv Limited NCD 2023 – Objects of the Issue
The proceeds from the Issue will be used as follows, as stated by the company:
- For the purpose of onward lending, financing, and repayment of existing loans and borrowings of the company.
- General Corporate Purposes.
Navi Finserv Limited NCD Issue
This NCD issue has been rated CRISIL A/Stable by CRISIL Ratings Limited.
Navi Finserv Limited – Company Contact Details
- Address: Second Floor, Vaishnavi Tech Square, Iballur Village, Begur Hobli, Bengaluru – 560 102.
- Telephone: 080 45113400
- Website: http://www.navi.com/finserv
Navi Finserv Limited NCD 2023 – Lead Manager of the Issue
The lead manager for this NCD issue is Jm Financial Limited
Navi Finserv Limited NCD 2023 – Registrar of the Issue
The registrar of this NCD issue is Link Intime India Private Ltd
Navi Finserv Limited NCD 2023 – Debenture Trustee
The trustee of this debenture issued by Navi Finserv Limited is Catalyst Trusteeship Limited.
Issue Documents
Please click here to read the final issue prospectus for detailed information on Navi Finserv Limited NCD issue 2023.
Disclaimer: This post is just information about the scheme. It does not give any advice or recommendation. Investment in securities is subject to market risk. Please read the offer document carefully before investing. It is also advised to consult your financial advisor of necessary suggestions.
