Navi Plans ₹3,000 Crore IPO Filing by December: Report
Fintech firm Navi is reportedly preparing to file for an Initial Public Offering (IPO) as early as December, with the issue size estimated at approximately ₹3,000 crore ($314 million). Details of the offering are still under discussion.
Fintech unicorn Navi is reportedly planning to file its draft red herring prospectus (DRHP) for an Initial Public Offering (IPO) by December, with the proposed issue size estimated at around ₹3,000 crore (approximately $314 million). According to a Bloomberg report citing sources, the IPO is expected to comprise a fresh issuance of shares, without any offer-for-sale component from existing shareholders.
Navi has reportedly appointed JM Financial, Kotak Mahindra Capital, Goldman Sachs, and JPMorgan as advisors for the planned offering. However, deliberations are ongoing, and details such as issue size, valuation, and timing could change, the report added. Navi declined to comment on the IPO speculations, stating that recent reports have been speculative.
Speculation about Navi's IPO has been present for some time. Company chairman Sachin Bansal had previously indicated that the company was considering an IPO in FY26. While these plans did not materialize as expected, recent reports suggest renewed preparations. In March 2022, Navi had previously filed for an IPO of up to ₹3,350 crore but deferred the offering due to subdued investor sentiment and challenging market conditions.
Founded in 2018, Navi offers financial services including lending, insurance, mutual funds, and UPI payments. The company is reportedly also looking to raise external equity funding ahead of its IPO. Navi joins a growing list of new-age technology companies seeking to go public in India, with others like Table Space and CarDekho also preparing for listings, while some, like Zepto, have deferred their plans.