Navi Finserv Raises INR 150 Cr via NCDs from Prominent Investors
Navi Finserv, a fintech unicorn led by Sachin Bansal, has successfully raised INR 150 crore through the issuance of Non-Convertible Debentures (NCDs). This comes months after the company announced its ambitious plan to raise up to INR 600 crore through NCDs, marking a significant milestone in its financial strategy.
The recent bond issuance was conducted through a private placement, and the finance committee of the board of directors approved the allotment of NCDs. Each NCD has a face value of INR 1,00,000, culminating in a total issuance of INR 150 crore. This move underscores Navi Finserv’s commitment to leveraging diversified funding sources to bolster its growth and expansion plans.
Among the distinguished investors are members of the Dadachanji family, who have collectively invested INR 110 crore. The prominent contributors include Kairus Shavak Dadachanji, Chairman of the Dadachanji Group, Pervin Kairus Dadachanji, and Rishad Kairus Dadachanji. Their substantial investment highlights the confidence established investors have in Navi Finserv’s potential and strategic direction.
Additionally, individual investors Rohit Kapadia, Sandhya Kapadia, and Yash Kapadia have contributed INR 40 crore, further diversifying the investment pool and showcasing the broad appeal of Navi Finserv’s financial instruments. This blend of institutional and individual investment underscores a robust trust in Navi Finserv’s business model and future prospects.
The decision to raise funds through NCDs is strategic. Non-Convertible Debentures are a popular choice for companies looking to secure medium to long-term capital without diluting equity. For Navi Finserv, this approach ensures that they can access necessary funds while maintaining control over their operations and strategic direction. It also provides investors with a reliable income stream through interest payments, making it an attractive investment option.
Sachin Bansal, co-founder of Flipkart and a significant figure in the Indian startup ecosystem, has been steering Navi Finserv with a vision to redefine financial services through technology and innovation. Under his leadership, Navi Finserv has been focusing on providing accessible and efficient financial solutions to a wide range of customers. The successful raising of INR 150 crore through NCDs is a testament to the market’s confidence in Bansal’s leadership and the company’s growth trajectory.
The funds raised will likely be used to enhance Navi Finserv’s product offerings, expand its market reach, and invest in new technologies to improve customer experience and operational efficiency. This infusion of capital will support the company’s mission to democratize financial services and make them more accessible to the underserved segments of society.
Navi Finserv’s strategic move to issue NCDs and the subsequent successful fundraising highlight its robust financial health and strategic foresight. It also reflects the growing investor interest in the fintech sector, which continues to evolve rapidly with advancements in technology and changing consumer preferences.
In conclusion, Navi Finserv’s successful raising of INR 150 crore through NCDs from a mix of institutional and individual investors marks a significant milestone in its growth journey. This move not only strengthens its financial position but also sets a strong foundation for future expansion and innovation in the financial services sector.
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