Navi Finserv Limited NCD Company Profile:

Navi Finserv Limited is a digital lending platform that provides loans to individuals and businesses in India. The company was established in Bangalore in 2012 by Sachin Bansal and Ankur Jain. In addition to personal loans, business loans, and mortgage loans, Navi Finserv also provides other lending products. EMIs, lump-sum payments, and flexible repayment plans are just a few of the numerous repayment alternatives that the organisation provides. With a heavy emphasis on technology, Navi Finserv uses machine learning and artificial intelligence to quickly and effectively analyse credit risk and deliver loans to consumers.

Navi Finserv Limited is coming out with a public issue of Secured, Rated, Listed Redeemable Non-Convertible Debentures of the face value of Rs 1,000 each, (“NCDs”), for an amount up to ₹250 crores (“Base Issue Size”) a green shoe option of ₹250 crores aggregating up to ₹500 crores. The Issue offers yields ranging from 10.18% to 11.01% depending upon the Category of Investor and the Series applied for. The Issue shall be open from Monday, 10th July 2023, to Friday, 21st July 2023, with an option to close earlier and/or extend up to a period as may be determined by the Securities Issuance Committee.


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    Navi Finserv Limited NCD Details:

    Issue opens: Monday, 10th July 2023
    Issue closes: Friday, 21st July 2023
    Allotment: First Come First Serve Basis
    Face Value: Rs.1,000 per NCD
    Nature of Instrument: Secured, Rated, Listed Redeemable Non-Convertible Debentures
    Minimum Application: ₹ 10,000/- (10 NCDs) and in multiples of ₹ 1,000/-(1 NCD) thereafter
    Credit Rating “A/Stable” by CRISIL Ltd and India Ratings
    Issue Size Base Issue size of ₹ 250 Crore with a Green Shoe option of up to ₹ 250 Crore aggregating up to ₹ 500 Crore being the Issue size.
    Listing: Proposed on BSE & NSE
    Registrar: Link Intime India Pvt Ltd
    Category I – Institutional (“QIB”) II – Non-Institutional (“Corporates”) III – High Net worth

    Individual (“HNI”)

    (Amount aggregating to

    above ₹ 10 lakh)

    IV – Retail Individual (“Retail”) (Amount aggregating up to and including ₹ 10 lakh)
    Category Allocation of the overall Issue Size 20% 20% 30% 30%
    Amount in Crs. 100 cr. 100 cr. 150 cr. 150 cr.

                                                       Navi Finserv Limited NCD

    Application form

    Navi Finserv Limited NCD Specific Terms of the Prospectus:

    The terms of the NCDs offered under the Issue are as follows:

    Series I II III IV* V
    Frequency of Interest Payment Monthly Monthly Annual Monthly Annual
    Tenor 18 Months 27 Months 27 Months 36 Months 36 Months
    Coupon Rate (% p.a.) for :
    For all Categories 9.75% 10.25% 10.75% 10.50% 11.02%
    Effective Yield (% p.a.) for :
    For all Categories 10.18% 10.73% 10.78% 11.01% 11.01%
    Amount (₹ / NCD) on Maturity for * :
    For all Categories ₹ 1,000 ₹ 1,000 ₹ 1,000 ₹ 1,000 ₹ 1,000

    *- Subject to applicable tax deducted at source, if any.

    The company shall allocate and allot Series I NCDs (Monthly option) wherein the Applicants have not indicated the choice of the relevant NCD Series