Sachin Bansal's Navi Finserv's Rs 300-cr debt bond subscribed 1.4 times

The fintech firm's secured, rated, listed and redeemable non-convertible debentures (NCDs) have a total value of Rs 600 crore after including the greenshoe option of Rs 300 crore.

Sachin Bansal
Venture capitalist Sachin Bansal
Press Trust of India New Delhi
1 min read Last Updated : Jun 01 2022 | 6:47 PM IST

Venture capitalist Sachin Bansal-led Navi Finserv non-convertible debentures base issue of Rs 300 crore has been subscribed 1.4 times to date, according to a regulatory filing.

The fintech firm's secured, rated, listed and redeemable non-convertible debentures (NCDs) have a total value of Rs 600 crore after including the greenshoe option of Rs 300 crore.

According to the data available on NSE and BSE, qualified institutional buyers have opted for 5.08 times their quota, corporate bidders subscribed for 0.52 times, high networth individuals 0.22 times and retail investors 0.71 times.

The bond was opened on May 23, 2022, but will close eight days before the last date of June 10 as the base issue has been oversubscribed.

Navi had recorded revenue of Rs 316.45 crore in the nine months ended December 31, 2021.

The company provides loans to low-income groups, self-employed individuals etc.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

Subscribe to Business Standard digital and get complimentary access to The New York Times

Quarterly Starter

₹900

3 Months

₹300/Month

SAVE 25%

Smart Essential

₹2,700

1 Year

₹225/Month

Save 46%

Super Saver

₹3,900

2 Years

₹162/Month

Subscribe

Renews automatically, cancel anytime

Here’s what’s included in our digital subscription plans

Access to Exclusive Premium Stories Online

  • Over 30 behind the paywall stories daily, handpicked by our editors for subscribers

Complimentary Access to The New York Times

  • News, Games, Cooking, Audio, Wirecutter & The Athletic

Business Standard Epaper

  • Digital replica of our daily newspaper — with options to read, save, and share

Curated Newsletters

  • Insights on markets, finance, politics, tech, and more delivered to your inbox

Market Analysis & Investment Insights

  • In-depth market analysis & insights with access to The Smart Investor

Archives

  • Repository of articles and publications dating back to 1997

Ad-free Reading

  • Uninterrupted reading experience with no advertisements

Seamless Access Across All Devices

  • Access Business Standard across devices — mobile, tablet, or PC, via web or app

More From This Section

Topics :Sachin BansalBondsFintech firmsventure capitalists

First Published: Jun 01 2022 | 6:46 PM IST

Next Story