With 20M active users, Navi looks to list by FY26; Jupiter to wait longer for IPO

Fintech firm Navi is planning to go public by FY26, according to Co-founder and CEO Sachin Bansal.

“We have reached a stage where we have 20 million users, monthly active, 40 million ever used on the platform. It's gone to a very decent stage. Now we are at a place where we can use more capital, and I think public markets is the best source of capital,” Bansal said. “Ideally, we would like to IPO by FY26, if we can.”

Bansal made the remarks at Startup Mahakumbh, where he spoke on a panel alongside industry leaders Vijay Shekhar Sharma, Jitendra Gupta of Jupiter, and Alok Bansal of PB Fintech.

While Bansal is preparing Navi for an IPO in the next couple of years, Jitendra Gupta noted that public markets are still “very far away” for Jupiter.

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During the panel, Alok Bansal and Vijay Shekhar Sharma—who have successfully listed their companies, PB Fintech and Paytm, respectively—shared their experiences of life post-IPO. Both founders revealed that they end up conducting 400-500 investor meetings every quarter to maintain investor interest and stabilize their companies' share prices.

Alok Bansal admitted that he enjoys explaining PB Fintech’s business model to potential investors, especially those overseas who are unfamiliar with the company's unique approach. “It’s a new concept for most international investors who have never seen a model like PB Fintech in their life,” he said.

Vijay Shekhar Sharma quipped, “Earlier, we used to think life would get easier once we were done with listing, but the reality is it only gets more hectic after an IPO.”

He added with a smile, “Like they say, it doesn’t get easier—you get better.”