Navi Finserv Limited NCD Company Profile:

Navi Finserv Limited is a non-deposit taking, systemically important NBFC registered with RBI and a wholly owned subsidiary of NTL. NTL is a technology-driven financial products and services company in India focusing on the digitally connected young middle-class population of India. The Company offer lending products like personal loans and home loans under the “Navi” brand. They also offer microfinance loans, under the “Chaitanya” brand through their Subsidiary, CIFCPL. The Company’s lending products (i.e. personal loans and home loans) are exclusively distributed through the “Navi” app, which is a mobile application developed by their Promoter, NTL (“Navi App”).

Navi Finserv Limited is coming up with a public issue by the company of secured, redeemable, non-convertible debentures of face value ₹ 1,000 each (“NCDs” or “debentures”), for an amount up to ₹300 crores (“base issue size”) with an option to retain oversubscription up to ₹300 crores, aggregating up to ₹600 crores is being offered by way of this prospectus. The issue opens for subscription on Monday, 26th February 2024, and will close on Thursday, 07th March 2024. The allotment is on a first come first serve basis with the minimum application to be made is of 10 NCDs.

Navi Finserv Limited NCD Details:

Issue opens: Monday, 26th February 2024
Issue closes: Thursday, 07th March 2024
Allotment: First Come First Serve Basis
Face Value: ₹ 1,000 per NCD
Nature of Instrument: Secured Redeemable Non-Convertible Debenture (“NCDs”)
Minimum Application: 10 NCDs (₹ 10, 000) & in multiple of 1 NCD
Listing: BSE & NSE
Credit Rating: A/Stable by CRISIL
Issue Size: Public issue by Navi Finserv Limited (“the Company) of secured, rated, listed, redeemable, non-convertible debentures of face value of ₹ 1,000 each (“NCDs”) for an amount up to ₹300 crores (“Base Issue Size”) with an option to retain oversubscription up to ₹300 crores (“Green Shoe Option”), aggregating up to ₹600 crores.
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% 25% 25% 30%
Bucket Size (₹) assuming Issue size of ₹ 600 Cr ₹ 120  Cr ₹ 150 Cr ₹ 150 Cr ₹ 180 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 Month 27 Month 27 Month 36 Month 36  Month
Coupon (% per annum) for NCD Holders in all Categories 10.00% 10.40% 10.90% 10.65% 11.19%
Effective Yield (% per annum) for NCD Holders in all Categories 10.47% 10.91% 10.94% 11.19% 11.19%
Amount (₹ / NCD) on Maturity for NCD Holders in all Categories ₹ 1,000/- ₹ 1,000/- ₹ 1,000/- ₹ 1,000/- ₹ 1,000/-
Maturity / Redemption Date (from the Deemed Date of Allotment) 18 Months 27 Months 27 Months 36 Months 36 Months

*- The Company shall allocate and allot Series I NCDs (Monthly Option) wherein the Applicants have not indicated the choice of the relevant NCD Series.

For any queries related to the NCD, you can consult the team at Elite Wealth. Since Demat is mandatory for investing in this particular NCD, the investor must open a Demat account with a trusted broker like Elite Wealth.