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NCD Status: Closed [26th Feb 2024 to 7th Mar 2024]
Navi Finserv Limited is issuing secured and redeemable NCDs with a base issue size of Rs 300.00 Cr and Oversubscription issue size of Rs 300.00 Cr. The subscription period is opening from 26 Feb to 07 Mar 2024 and the company is issuing Series I to V at an issue price of Rs. 1000 per NCD. The lot size of NCD is about of 10 lots , so the total cost for NCD is Rs 10,000. The face value of each NCD is Rs. 1000. The tenure of the NCDs is 18,27 and 26 months with a coupon rate of 10.00% to11.19% per annum.
Learn more about Navi Finserv Limited including credit rating, coupon rates for each series, basis of allotment, payment frequency and more.
| NCD Opening Date: | 26th Feb 2024 |
| NCD Closing Date: | 7th Mar 2024 |
| NCD Type: | Secured NCD |
| Issue Size (Base): | ₹300.00Cr |
| Issue Size (Shelf): | |
| Face Value: | Rs 1000 each NCD |
| Issue Price: | Rs 1000 per NCD |
| Market Lot: | 1 NCD |
| Min Order Qty: | 10 NCD |
| Min Order Amount: | Rs 10000 |
| Listing at: | BSE, NSE |
| Tenor: | 18, 27 and 36 months |
| Rating: | CRISIL A/Stable by CRISIL. |
| Series: | Series I to V |
| Payment Frequency: | Monthly and Annually |
| Basis of Allotment: | |
| Interest on return: |
Zerodha Trade@20
| NCD Activity | Date |
|---|---|
| NCD Issue Open | 26th Feb 2024 |
| NCD Issue Close | 7th Mar 2024 |
| BSE Code: | 3329 |
| BSE Script Symbol: | NFLNCD3 |
| NSE Code: | NFLNCD3 |
* - Tentative Dates
| Category Name | NCD's Reserved | NCD's Allocated |
|---|---|---|
| Institutional | 600000 | 20% |
| Non-Institutional | 750000 | 25% |
| HNI | 750000 | 25% |
| Retail | 900000 | 30% |
Navi Finserv Limited was founded in February 2012. It is a non-deposit taking, systemically important NBFC registered with the RBI and is a wholly owned subsidiary of NTL. NTL is a technology-driven financial products and services company in India that focuses on the digitally connected young middle class in India. The company offers credit products such as personal loans and home loans under the “Navi” brand.
The company believes that its digital lending process is one of the key differentiators driving business growth. The promoter takes a mobile-first approach and leverages its strong in-house technology and product expertise to develop customer-centric products. The company has entered into an outsourcing agreement with the promoter covering technology-enabled services, cash management and lending, operations, collections and tax. Under the outsourcing agreement, the company's products are distributed exclusively via the Cash Loan App and the Home Loan App, the digital platform developed by the promoter.
The Cash Loan App and Home Loan App, available on the Navi App, provide a user-friendly and engaging experience to personal loan and home loan customers while minimising manual intervention and paperwork.
Navi Finserv Limited's revenue increased by 153.52% and profit after tax (PAT) rose by 1902.04% between the financial year ending with March 31, 2023 and March 31, 2022.
| Period Ended | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
| Assets | 12,523.95 | 6,312.72 | 4,401.07 |
| Revenue | 2,078.55 | 819.89 | 565.24 |
| Profit After Tax | 264.16 | -14.66 | 118.17 |
| Reserves and Surplus | 2,153.99 | 1,080.52 | 1,010.85 |
| Amount in ₹ Crore | |||
The company intends to utilize the net proceeds from the issue towards the funding of the following objects:
Navi Finserv Limited NCD Coupon Rates
| # | Series 1 | Series 2 | Series 3 | Series 4 | Series 5 |
|---|---|---|---|---|---|
| Frequency of Interest Payment | Monthly | Monthly | Annual | Monthly | Annual |
| Nature | Secured | Secured | Secured | Secured | Secured |
| Tenor | 18 Months | 27 Months | 27 Months | 36 Months | 36 Months |
| Coupon (% per Annum) | 10.00% | 10.40% | 10.90% | 10.65% | 11.19% |
| Effective Yield (% per Annum) | 10.47% | 10.91% | 10.94% | 11.19% | 11.19% |
| Amount on Maturity (In Rs.) | Rs 1,000.00 | Rs 1,000.00 | Rs 1,000.00 | Rs 1,000.00 | Rs 1,000.00 |
Last Updated on 2024-03-10T06:33:16+00:00
