Navi Technologies files DRHP with SEBI for Rs 3,350 crore IPO
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Navi Technologies has filed draft red herring prospectus (DRHP) with the market regulator Securities and Exchange Board of India (SEBI) to raise up to Rs 3,350 crore through an initial public offering (IPO).
Proceeds of the IPO will be used to invest in subsidiaries -- Navi Finserv (NFPL) and Navi General Insurance (NGIL) -- and for general corporate purposes. ICICI Securities, BofA Securities and Axis Capital, Credit Suisse Securities (India) and Edelweiss Financial Services are the book running lead managers to the public issue.
Navi Technologies is a tech-driven financial products and services company. Since the company's incorporation, it has expanded offerings under the ‘Navi’ brand to include personal loans, home loans, general insurance and mutual funds.
