Sachin Bansal's Navi secures Rs 170 Cr debt from institutional investors
Navi Technologies, co-founded by Sachin Bansal, offers a range of financial services, including personal loans, mutual funds, and health insurance.
Navi Technologies Ltd has raised Rs 170 crore in debt through a private placement of debentures to a group of institutional and private investors, regulatory filings dated July 25 showed.
The company, co-founded by Flipkart Co-founder Sachin Bansal, received board approval for the fundraising on June 16, with the finance committee clearing the allotment on July 10.
Navi raised funds from nine investors: Aarpee Commercial Company, Ravi Dyeware Company, Siddharth Colorchem, Ambit Finvest, Grey Grass India, Nahar Capital and Financial Services, NDX Financial Services, Phillip Commodities India, and Phillip Finance and Investment Services India.
The fundraising was conducted under the private placement route and did not require shareholder approval. Navi, which offers a range of financial services, including personal loans, mutual funds, and health insurance, is expected to use the capital to support the expansion of its lending and insurance operations.
Navi Finserv posted a 19.1% year-on-year rise in revenue from operations in the financial year ended March 31, 2025, driven by higher interest income. However, its net profit declined sharply from the previous year, which had included a significant one-time gain from the sale of a subsidiary.
Total revenue from operations rose to Rs 2,271 crore in FY25 from Rs 1,906 crore a year earlier. The growth was led by a 23% increase in interest income, which climbed to Rs 1,981 crore despite a regulatory setback halting its lending activity for over a month.
Despite the healthy topline, the profit after tax (PAT) for the year fell 66.8% to Rs 222 crore from Rs 669 crore in FY24. The prior year’s earnings had been inflated by a Rs 704.06 crore gain from the sale of its subsidiary, Chaitanya India Fin Credit, which was divested in November 2023. Excluding that one-off gain, its core profitability also faced some pressures.
Impairment charges on financial instruments, a proxy for loan loss provisions, increased 16.8% YoY to Rs 578.79 crore. Finance costs rose 21.1% YoY to Rs 797 crore, while employee benefit expenses were up 15.1% at Rs 172.56 crore. Total expenses grew 13.6% to Rs 1,988.88 crore.
(The copy has been updated with additional clarification)
Edited by Suman Singh