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NCD Status: Closed [10th Jul 2023 to 13th Jul 2023]
Navi Finserv Limited issues secured and Redeemable NCD comprises Base issue size worth of Rs 250.00 Cr and Shelf issue size of worth Rs 500.00 Cr. The subscription is opening from 10 July 2023 to 21 July 2023. The company issues series I to V at an issue price of Rs. 1000 per NCD. One can subscribe to the NCD with a minimum ticket size of Rs. 10,000 (10 NCDs) . The face value of each NCD is Rs 1000. The NCD tenor is 18, 27 and 36 months with a coupon rate ranging from 9.75% - 11.01% per annum.
Check more about the Navi Finserv Limited including credit rating, Coupon rates for each series, the basis of allotment, payment frequency, and more.
| NCD Opening Date: | 10th Jul 2023 |
| NCD Closing Date: | 13th Jul 2023 |
| NCD Type: | Secured NCD |
| Issue Size (Base): | ₹250.00Cr |
| Issue Size (Shelf): | ₹500.00Cr |
| 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: | IND A/ Stable by India Ratings & 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 | 10th Jul 2023 |
| NCD Issue Close | 13th Jul 2023 |
| BSE Code: | 3066 |
| NSE Code: | NFLNCD2 |
* - Tentative Dates
| Category Name | NCD's Reserved | NCD's Allocated |
|---|---|---|
| Institutional | 750000 | 20% |
| Non-Institutional | 0 | 20% |
| HNI | 0 | 30% |
| Retail | 0 | 30% |
Navi Finserv Limited was incorporated in Bangalore in the year 2012. It is an RBI registered non-deposit taking systemic NBFC and a wholly owned subsidiary of NTL. NTL is a technology-enabled 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. It also offers microfinance loans under the "Chaitanya" brand through our subsidiary CIFCPL.
The company believes that its digital lending process is one of the key differentiators for business growth. The promoter takes a mobile-first approach and leverages its strong in-house technology and product expertise to develop customer-centric products. In April 2020, our personal loan product was launched under the "Navi" brand. Under this business line, instant loans of up to ₹ 2.0 million with terms of up to 84 months are extended through a fully digital process that is handled exclusively through the Navi app.
Lenders are diversified and include public sector enterprises ("PSUs"), private banks, and investment funds. They also securitize portions of our portfolios through pass-through certificates ("PTCs") and direct assignments ("Direct Assignments") of loan receivables to various banks or NBFCs. In addition, they extend personal loans through co-lending partnerships with financial institutions.
| Period Ended | Total Assets | Total Revenue | Profit After Tax |
|---|---|---|---|
| 31-Mar-21 | 4,402.09 | 565.24 | 118.17 |
| 31-Mar-22 | 6,312.72 | 819.89 | -14.66 |
| 31-Mar-23 | 12,523.95 | 2,078.55 | 264.16 |
| Amount in ₹ Crore | |||
The company proposes to utilize the funds which are being raised through the Issue towards the following objectives:
1. For the purpose of onward lending, financing, and repayment of existing loans and borrowings of the company.
2. General corporate purposes.
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) | 9.75% | 10.25% | 10.75% | 10.50% | 11.02% |
| Effective Yield (% per Annum) | 10.18% | 10.73% | 10.78% | 11.01% | 11.01% |
| 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 |
Navi Technologies Limited is the company promoter.
The NCDs proposed to be issued under the Issue have been rated as IND A/ Stable by India Ratings & CRISIL A/Stable by CRISIL Ratings Limited. The instrument with such a rating is expected to have an adequate degree of safety.
Last Updated on 2023-07-16T03:30:40+00:00
