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IPO

BondsIndia

A

Opening Date

23 May 2022

Closing Date

02 Jun 2022

Yield

Upto 9.80%

Tenure

Upto 27 Months

Bondsindia

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Company Details
BondsIndia
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IPO Details

Issue Size (Including Green Shoe Option) ₹ 600 crores
Face Value ₹ 1,000
Yield Upto 9.80%
Minimum Number of Bonds 10
Lot Size (Multiplier) 1
Allotment Date (Tentative) 08 Jun 2022
Listing Date (Tentative) 10 Jun 2022
Exchange Bid Time (24 Hours) 10:00 to 17:00

Documents attached

Information Memorandum

 

BondsIndia
Product Note

 

BondsIndia

*Allotment on first come first serve basis

 

ISSUE STRUCTURE

Series
I
II
III
IV*
Frequency of Interest payment
Monthly
Annual
Monthly
Annual
Minimum Application
₹ 10,000 (10 NCDs) across all Series
In Multiples of thereafter
₹ 1,000 (1 NCD)
Face Value/ Issue Price of NCDs
₹ 1,000
Type of Instrument
Secured NCDs
Tenure
18 Months
18 Months
27 Months
27 Months
Coupon (% per annum) for NCD Holders in Category I, II, III and IV Investors
9.20%
9.50%
9.40%
9.75%
Effective Yield (% per annum) for NCD Holders in Category I, II, III and IV In
9.59%
9.57%
9.80%
9.77%
Mode of Interest Payment
Through various mode availabe
Amount ( NCD) on Maturity for NCD Holders in Category I, II, III and IV Investors
₹ 1,000
₹ 1,000
₹ 1,000
₹ 1,000
Maturity / Redemption Date (from the Deemed date of Allotment)
18
Months
18
Months
27
Months
27
Months
Put And Call Option
Not Applicable
*The Company shall allocate and allot Series IV NCDs wherein the Applicants have not indicated the choice of the relevant NCD Series.

Why choose BondsIndia?

BondsIndia is an online platform for fixed-income securities such as IPOs, bonds, 54EC bonds, and fixed deposits. With a cumulative pedigree of 50+ years in the bond market, we aim to democratize the market for common investors by stationing detailed insights, expert advice, and keeping a close watch on the market sentiment. BondsIndia brings up-to-date information when IPOs go live, fixed deposits with higher interests, and bonds with competitive price before anyone else.

BondsIndia ditches the traditional ways of investing by offering a Technology based platform for investors that ensures instant online settlements and reduces counter-party risks. Choose BondsIndia for its sleek interface, fail-safe communication and step-by-step guide to ensure a well-placed bid. You can apply for Navi Finserv IPO on BondsIndia’s website.

Place your bid in three simple steps:

1

Key in Basic Details

2

Choose the IPO Series

3

Place the bid

How to invest in the
NAVI FINSERV LTD IPO?

Application process on BondsIndia platform is simple and seamless.

  • Click on the details of the company on the home page
  • Fill in the Application form with the basic details such as Name, email address, mobile number, Pan details, bank, and Demat details
  • Then, confirm the quantity and price and select a payment method.
  • That’s all folks, bidding complete!

Reach out to on info@bondsindia.com for more questions. Thank you for tuning in with BondsIndia.

AUM

₹ 1,448.63 crores

GNPA

1.08%

NPA

0.08%

  • NAVI FINSERV LIMITED
    NFL, a wholly owned subsidiary of the Navi group main holding company is NTL, holds 100 percent stake in CIFCPL, which has been in operations since 2009. The consolidated AUM of the lending vertical stood at INR 36.5 billion at end December 2021.
    Navi FinServ with its systematic and focused approach strives to meet the borrowing needs of the middle income families, and aims to be a Pan India Financial Services Company and provide the full spectrum of financial services, by developing various types of financial products.
    Navi FinServ strongly believes that the financial products will help in empowerment and capacity building of the middle income families.
  • Products
    1. Digital Personal Loans
    2. Home Loans
    3. Microfinance Loans
    4. Loans against property
  • Subsidiaries
    Chaitanya India Fin Credit Pvt Ltd (CIFCPL): Chaitanya has its inspiration in an NGO of same name from 2004 with a focus on support for rural livelihood activities and rural education. Chaitanya, the NBFC, was formed in 2009.
    After transforming itself as NBFC MFI in the year 2009, Chaitanya quickly began its operations with an amicable goal of helping the many low-income families who have been traditionally away from the formal banking sector. Today, Chaitanya operates in 10 states of the country, serving over 6 Lakh clients. With an aim to be a Pan India Financial Institution providing loans meeting the financial service needs of the low and middle-income rural population, encouraging them to be part of the formal economic sector.
  • Large Capital Base, Deployment Likely Across Various Segments
    NFL, which is also a holding company of the Navi Groups non banking financial company microfinance institution NBFC-MFI, Chaitanya India Fin Credit Limited, is a lending subsidiary of NTL. NTL was set up to invest in and provide technological platforms to the financial companies of the group. The company was set up by the founder and ex-promoter of Flipkart, Sachin Bansal, who infused INR 40 billion into various financial ventures of the group in FY20. Apart from the lending business, the group also owns a general insurance company, Navi General Insurance, which was acquired from Dewan Housing Finance Limited in FY20.
  • Eminent Board and Advisor
    With the company expanding its operations, it has set up an experienced board with Anand Sinha former deputy governor of the RBI as the independent director at NTL. It has also enlisted the services of the veteran banker, Paresh Suthankar, as advisor to the board for lending, banking and other businesses. NFL has appointed Riya Bhattacharya as the new chief executive officer, who has experience in investing and building companies. Moreover, the company has appointed a new Chief Financial Officer Divyesh Jain who has 11 years of experience in the finance domain. NFL also has a lending head and two product heads, individually looking at housing loan and digital loan segments.
  • Reserve Equity to Support Business Requirements
    Of the INR 40 billion corpus, NTL had infused INR 18 billion, with 64 percent of it mainly infused in the lending businesses, as of December 2021, with the balance being available for equity infusion, further expansion in related verticals, and contingent support to group companies, as and when required. This surplus has mostly been lent to NFL through interest free debentures, and subsequently invested largely in capital markets. The track record of the promoters provides the group with substantial experience in fundraising.
  • High Disbursement to Outstanding Ratio
    NFL offers digital personal loans up to a ticket size of INR 2 million; in the agency opinion, this is the easiest product to build through purely digital means. NFL also introduced home loans up to INR 50 million in December 2020. In 3 Quarter FY22, NFL disbursed INR 12 billion and CIFCPL INR 8.4 billion, resulting in disbursements outstanding assets under management AUM of 98 percent for NFL and 77.3 percent for CIFCPL at 9 Months FYE22. NFL has almost reached a monthly run rate of INR 5 billion disbursements, which would increase even further in the near term. While still being under the leverage target, the unseasoned portfolio could throw up material credit cost. However, the company has made important developments in analytics and processing algorithms that resulted in lower early delinquencies in the second and third quarter disbursement cohorts compared to FY21.
  • Leverage Increasing
    The company is ramping up its lending businesses, including the microfinance business through CIFCPL. While the agency expects the consolidated adjusted leverage total external lending vertical debt infused equity of INR 11.5 billion of the lending vertical to increase over the medium term December 2021: 2.3x; June 2021: 1.1x, the company intends to cap it at 3.5x. The consolidated leverage including internal debt at end December 2021 stood at 3.45x and would have further increased at end March 2022. Simultaneously, the company plans to maintain strong liquidity buffers to face any liquidity crunch that may arise, factoring in the uncertain environment. However, the leverage at the microfinance subsidiary increased to 4.1x in December 2021 from 3.1x in FY21.
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* Investments in debt securities are subject to risks. Read all the offer related documents carefully.
N/A stands for Not Applicable

SEBI Registration No. : INZ000296636 | BSE Member ID: 6746 | NSE Member ID: 90329

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