Key things to know about Rs 3,350 Cr IPO-bound Navi Technologies
to raise Rs 3,350 crore from the public markets in a fresh issue of shares.co-founder Sachin Bansal-led fintech company has filed its Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI)
The Bengaluru-based company — which started as a lending business in 2018 and has a presence in insurance, asset management, and microfinance — will issue fresh equity shares as part of its IPO (initial public offering).
The company will invest Rs 2,370 crore of the proceeds into its lending business, Navi Finserv Private Limited (NFPL) and Rs 1,500 crore in its insurance subsidiary, Navi General Insurance Limited (NGIL), it said in the DRHP.
Sachin Bansal, who has invested nearly Rs 4,000 crore in Navi to date, will not dilute his stakes in the company during the IPO.
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News & Updates
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- Facebook's parent company Meta has announced that it will revoke certain employee benefits such as free laundry, dry cleaning, and valet service. In response, employees used to the perks are up in arms about this development.
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