Last updated on March 7, 2024
Navi Finserv NCD February 2024 Description – Incorporated in 2012, Navi Finserv is a non-deposit-taking, systemically important NBFC registered with RBI and a wholly owned subsidiary of NTL. NTL is a technology-driven financial products and services company in India, focusing on the digitally connected young middle-class population.
The company offers lending products like personal loans and home loans under the ‘Navi’ brand. It also offers microfinance loans, under the ‘Chaitanya’ brand through the Subsidiary, CIFCPL. The company launched personal loans and home loan products under the ‘Navi’ brand in April 2020 and February 2021. Under this business, the personal loans extend instant personal loans up to INR 2.0 million with tenors of up to 84 months through an entirely digital Navi App-only process.
As of 30 September 2023, the company has disbursed 3,671,272 personal loans amounting to INR 21,532.13 crore. During the six months ended 30 September 2023, Navi Finserv disbursed 1,010,761 personal loans amounting to INR 6,136.15 crore, with an average ticket size of INR 60,708. From the date of the launch, the company has approved personal loans to customers across over 99.69% of all Indian pin codes. As of 30 September 2023, the company’s personal loans business had an AUM of INR 6,763.58 crore.
As of 31 March 2023, the company had disbursed home loans across 10 cities in India. The company offers loans up to INR 10 crore with a tenor of up to 40 years. As of 30 September 2023, the company had an AUM of INR 725.76 crore. Since its launch, Navi Finserv has disbursed loans amounting to INR 1,178.56 crore, with an average ticket size of INR 0.62 crore during the six months ending 30 September 2023.
Its microfinance loan business is carried out through the Subsidiary, CIFCPL, to extend credit to low-income women in rural and semi-rural areas across India.
Promoters of Navi Finserv – Navi Technologies Limited
Navi Finserv NCD February 2024 Details
| Subscription Dates | 26 Feb – 7 Mar 2024 |
| Security Type | Secured, Redeemable, Non-Convertible Debentures |
| Face Value | INR 1,000 per NCD |
| Issue Price | INR 1,000 per NCD |
| Issue Size (Base) | INR 300 crores |
| Overall Issue Size (including oversubscription) | INR 600 crores |
| Minimum Lot Size | 10 NCDs |
| Market Lot | 1 NCD |
| Tenor | 18 months 27 months 36 months |
| Credit Rating | CRISIL A/Stable |
| Category Reservation | Category 1 (QIB): 20% Category 2 (NII): 25% Category 3 (HNI): 25% Category 4 (Retail): 30% |
| Basis of Allotment | First Come First Serve |
| Listing On | BSE, NSE |
Navi Finserv NCD February 2024 – Options and Coupon Rates
| Option | Tenure | Interest Payment | Coupon Rate | Effective Yield | Maturity Amount |
| Series 1 | 18 months | Monthly | 10.00% | 10.47% | INR 1,000 |
| Series 2 | 27 months | Monthly | 10.40% | 10.91% | INR 1,000 |
| Series 3 | 27 months | Annual | 10.90% | 10.94% | INR 1,000 |
| Series 4 | 36 months | Monthly | 10.65% | 11.19% | INR 1,000 |
| Series 5 | 36 months | Annual | 11.19% | 11.19% | INR 1,000 |
Navi Finserv Non-Convertible Debentures Lead Manager
JM FINANCIAL LIMITED
7th Floor, Cnergy, Appasaheb Marathe Marg,
Prabhadevi Mumbai – 400 025
Phone:Â +91 22 6630 3030
Email:Â [email protected]
Website: jmfl.com
Navi Finserv Non Convertible Debentures Registrar
LINK INTIME INDIA PRIVATE LIMITED
C-101, 1st Floor, 247 Park
L.B.S. Marg, Vikhroli West
Mumbai – 400 083, Maharashtra
Phone:Â +918108114949
Email:Â [email protected]
Website: www.linkintime.co.in
Navi Finserv NCD Documents
Navi Finserv Contact Details
NAVI FINSERV LIMITED
Second Floor, Vaishnavi Tech Square,
Iballur Village, Begur Hobli, Bengaluru 560 102, Karnataka
Phone: 080 45113400
Email: [email protected]
Website: www.navi.com/finserv
Navi Finserv NCD February 2024 Subscription Status (no. of times)
| Date | QIB | NII | HNI | Retail | Total |
|---|---|---|---|---|---|
| 7 Mar 2024 | 1.28 | 4.71 | 1.12 | 1.02 | 2.02 |
| 1 Mar 2024 | 1.28 | 2.61 | 1.04 | 0.60 | 1.35 |
| 29 Feb 2024 | 1.28 | 1.94 | 0.86 | 0.52 | 1.11 |
| 28 Feb 2024 | 1.28 | 1.92 | 0.85 | 0.44 | 1.08 |
| 27 Feb 2024 | 1.28 | 1.90 | 0.76 | 0.33 | 1.02 |
| 26 Feb 2024 | 0.75 | 0.68 | 0.49 | 0.42 | 0.52 |
Navi Finserv NCD February 2024 Allotment Status
Navi Finserv NCD February 2024 allotment status will be available on Link Intime’s website. Click on this link to get allotment status.
Navi Finserv NCD February 2024 FAQs
What is the face value and lot size of Navi Finserv NCD February 2024?
The NCDs will be issued at a face value of INR 1,000 each NCD and the minimum lot size is 10 NCDs.
What is the frequency of interest payment in Navi Finserv NCD February 2024?
The frequency of payment for Navi Finserv NCD is Monthly & Annual.
What is the basis of allotment in Navi Finserv NCD February 2024 offer?
Navi Finserv NCDs will be allotted on a First Come First Serve Basis.
