Private Debt

The company has repaid outstanding principal of Rs 121.78 crore to the bank, is in talks with other lenders for debt resolution plan

Navi Finserv debt bond got listed on Friday following 1.65 times subscription of the base issue of Rs 300 crore, the company said. The issue which closed on June 2, eight days ahead of schedule, received total bids worth Rs 495.72 crore which was about 65 per cent higher than the base issue. The fintech firm's secured, rated, listed and redeemable Non-Convertible Debentures (NCDs) had a total value of Rs 600 crore, including the greenshoe option of Rs 300 crore. The maximum bid for the Navi Finserv (NFS) issue came from Qualified Institutional Buyers (QIB) followed by HNIs (High Net-worth Individuals) and retail investors. "It's great to see the response to our maiden public NCD issuance from both retail and institutional investors. Our goal was to diversify our borrowing profile, and with more than 5,000 retail and HNI investors participating in the issue, the market has shown its confidence in our company's strong fundamentals and robust business model," NFS chairman and CEO Sach

Private debt means debt given to privately held companies or buying those loans in the secondary market

So far, the syringes were being supplied by the state government

The companies with high promoter pledging also saw a sharp fall in their share prices; market experts say companies with high pledging have seen sharp selling

The desire to enter the private debt space in India comes when there is an acute fund crunch in real estate and among non-banking financial companies

The top three borrowers in the world are the United States, China and Japan