Navi Finserv Limited is planning to raise ₹ 600 crore through public issuance of NonConvertible Debentures (NCDs)

● Includes a base issue size of ₹ 300 crore with an option to retain oversubscription
upto ₹ 300 crore aggregating to ₹ 600 crore
● Proposed NCDs have been rated IND A/ Stable by India Ratings & Research Pvt
Ltd
● Investors can get an effective yield of upto 9.8%* on their investment
● Issue opens on Monday, May 23, 2022
Bengaluru, May 17, 2022: Navi Finserv Limited (NFS), a wholly owned subsidiary of Navi
Technologies Limited (Navi), today announced the public issue of Secured, Rated, Listed &
Redeemable Non-Convertible Debentures (NCDs) amounting to ₹ 600 crore with a base issue
of ₹300 crore and an option to retain over-subscription of another ₹300 crore. The issue will
open on Monday 23 rd May, 2022 and is scheduled to close on Friday, 10 th June 10, 2022 with an
option of early closure or extension.
The proposed NCDs have a rating of A (Stable) by India Ratings & Research Pvt Ltd. This
rating is considered to have adequate degree of safety regarding timely servicing of financial
obligations. Such instruments carry low credit risk.
Investors get an opportunity to participate in secured NCDs under various series for tenure of 18
months and 27 months with an effective yield of upto 9.80%* and a minimum application size of
₹10,000.
Speaking about the NCD issue, Ankit Agarwal, Managing Director of NFS said, “The
upcoming NCD issue aims to raise funds for onward lending and financing purposes, This will
further diversify our borrowing profile and add more retail investors to our portfolio to
complement our wide base of Institutional partners. This is a secured instrument with A (stable)
rating, a low application size and an effective yield of upto 9.80%*.
Sachin Bansal, Chairman & CEO of NFS added: “At Navi, our mission is to provide financial
products that are simple, affordable and accessible. I believe that our customer centric and
technology first approach along with our robust underwriting and collections capabilities adds
value to Navi Finserv’s maiden public debt issue.”

NFS offers personal loans and home loans under the “Navi” brand and we have approved
personal loans to customers across over 84% of all Indian pin codes. The Company’s net worth
stood at Rs 11,895.72 million as on December 31, 2021 and maintained a comfortable
standalone debt to equity ratio of 2.1x as on December 31, 2021.
NFS has maintained a strong asset quality reflected by its Net NPA of 0.08% (as on December
31, 2021), which is supported by a collections efficiency of 96.63% (for personal loans
disbursed subsequent to April 1, 2021 till December 31, 2021). Its outstanding borrowings on a
standalone basis of ₹27,749.76 million as of March 31, 2022 was diversified across an array of
instruments such as NCDs, sub-debt, term loans, market linked debentures, commercial papers
and, securitisation instruments such as PTCs.
About Navi Group:
Co-founded by Sachin Bansal and Ankit Agarwal, the Navi group offers a range of financial
services and products such as Personal Loans, Home Loans, Retail Health Insurance and
Mutual Funds.
NCDs in the public issue will be allotted on a first-come first serve basis and thereafter on
proportionate basis, i.e. full allotment of the NCDs to the Applicants on a first come first basis up
to the date falling 1 (one) day prior to the date of oversubscription and proportionate allotment of
NCDs to the applicants from the date of oversubscription.

  • Yield for 27 months monthly payment option. Please refer to the prospectus for further details
    (https://www.navifinserv.com/prospectus)
    This Issue shall remain open for subscription on Working Days from 10 a.m. to 5 p.m. (Indian
    Standard Time) during the period indicated above, except that this Issue may close on such
    earlier date or extended date (subject to a period of maximum of 30 days from the date of
    Prospectus) as may be decided by the Board of Directors of our Company or a duly authorised
    committee thereof. In the event of an early closure or extension of this Issue, our Company shall
    ensure that notice of the same is provided to the prospective investors through an
    advertisement in all the newspapers in which pre-issue advertisement has been given on or
    before such earlier or initial date of Issue closure. For further details please refer to the chapter
    titled “Issue Related Information” on page 189 of the Prospectus
    ALLOTMENT ON FIRST CUM FIRST SERVE BASIS
    As per the SEBI Operational Circular, the allotment in this Issue is required to be made on the
    basis of date of upload of each application into the electronic book of the Stock Exchanges.
    However, from the date of oversubscription and thereafter, the allotments will be made to the
    applicants on proportionate basis.
    For further details, please refer to the Prospectus dated May 12, 2022 available on the website
    of Issuer at www.navifinserv.com, on the website of the BSE Limited at www.bseindia.com,
    National Stock Exchange Limited at www.nseindia.com, the respective websites of the lead

managers at www.akgroup.co.in and www.jmfl.com and on the website of SEBI at
www.sebi.gov.in.
Investment in debt securities involve a degree of risk and investors should not invest any funds
in such securities unless they can afford to take the risk attached to such investments. Investors
are advised to take an informed decision and to read the risk factors carefully before investing in
this offering. For taking an investment decision, investors must rely on their examination of the
issue including the risks involved in it. Specific attention of investors is invited to statement of
risk factors contained under “Risk Factors” section of the Prospectus.
Disclaimer:
NAVI FINSERV LIMITED, subject to market conditions and other considerations, is proposing a
public issue of Secured, Listed, Rated, Redeemable Non-Convertible Debentures and has filed
the Prospectus dated May 12, 2022 with the Registrar of Companies, Bengaluru, Karnataka,
BSE, NSE and SEBI. The Prospectus dated May 12, 2022 are also available on the website at
www.navifinserv.com, on the website of the BSE Limited at www.bseindia.com, National Stock
Exchange Limited at www.nseindia.com, the respective websites of the lead managers at
www.akgroup.co.in and www.jmfl.com and on the website of SEBI at www.sebi.gov.in. Investors
proposing to participate in the Issue should invest only on the basis of information contained in
the Prospectus dated May 12, 2022. Investors should note that investment in NCDs involves a
high degree of risk and for details relating to the same, please refer to the Prospectus dated
May 12, 2022, including the section “Risk Factors” beginning on page 18 of the Prospectus and
“Material Developments” on page 314 of the Prospectus before making an investment in the
Issue.
Disclaimer Statement of India Ratings & Research Pvt Ltd
All credit ratings assigned by India Ratings are subject to certain limitations and disclaimers.
Please read these limitations and disclaimers by following this link:
https://www.indiaratings.co.in/rating-definitions.
In addition, rating definitions and the terms of use of such ratings are available on the agency’s
public website www.indiaratings.co.in. Published ratings, criteria, and methodologies are
available from this site at all times. India ratings’ code of conduct, confidentiality, conflicts of
interest, affiliate firewall, compliance, and other relevant policies and procedures are also
available from the code of conduct section of this site.
CREDIT RATING:
The NCDs proposed to be issued pursuant to the Issue have been rated IND A/ Stable by India
Ratings & Research Pvt Ltd for an amount of up to ` 6,000 million by way of its letter dated April
12, 2022 and revalidation letter dated May 2, 2022. Instruments with this rating are considered
to have adequate degree of safety regarding timely servicing of financial obligations. Such
instruments carry low credit risk. The rating provided by India Ratings & Research Pvt Ltd may
be suspended, withdrawn or revised at any time by the assigning rating agency and should be
evaluated independently of any other rating. These ratings are not a recommendation to buy,

sell or hold securities and investors should take their own decisions. The rating given by the
Credit Rating Agency is valid as on the date of the Prospectus and shall remain valid until the
ratings are revised or withdrawn. These ratings are subjected to a periodic review during which
they may be raised, affirmed, lowered, withdrawn, or placed on Rating Watch. The Credit Rating
Agency’s website will have the latest information on all its outstanding ratings. In case of any
change in credit ratings till the listing of NCDs, the Company will inform the investors through
public notices/ advertisements in all those newspapers in which pre issue advertisement has
been given. These ratings are not a recommendation to buy, sell or hold securities and
investors should take their own decisions. For the rationale and press release for these ratings,
see “General Information” and “Annexure B” of the Prospectus, beginning on page 53 and 320
of the Prospectus, respectively.
Disclaimer Clause of NSE
It is to be distinctly understood that the permission given by NSE should not in any way be
deemed or construed that the Offer Document has been cleared or approved by NSE nor does
it certify the correctness or completeness of any of the contents of the Offer Document. The
investors are advised to refer to the Offer Document for the full text of the ‘Disclaimer Clause of
NSE”.
Disclaimer Clause of BSE
It is to be distinctly understood that the permission given by BSE Limited should not in any way
be deemed or construed that the Prospectus has been cleared or approved by BSE Limited nor
does it certify the correctness or completeness of any of the contents of the Prospectus. The
investors are advised to refer to the Prospectus for the full text of the Disclaimer clause of the
BSE Limited.
DISCLAIMER CLAUSE OF USE OF BSE ELECTRONIC PLATFORM:
It is to be distinctly understood that the permission given by the Exchange to use their network
and software of the Online system should not in any way be deemed or construed that the
compliance with various statutory requirements approved by the Exchange; nor does it in any
manner warrant, certify or endorse the correctness or completeness of any of the compliance
with the statutory and other requirements nor does it take any responsibility for the financial or
other soundness of this Company, its promoters, its management or any scheme or project of
this Company.
It is also to be distinctly understood that the approval given by the Exchange is only to use the
software for participating in the system of making the application process.
DISCLAIMER CLAUSE OF USE OF NSE ELECTRONIC PLATFORM:
It is to be distinctly understood that the permission given by National Stock Exchange of India
Ltd. (NSEIL) to use their network and Online Platform for facilitating applications for public
issue of debt securities shall not in any way be deemed or construed as compliance with
statutory and other requirements by Navi Finserv Limited, LMs, etc. is cleared or approved by
NSEIL; nor does it in any manner warrant, certify or endorse the correctness or completeness of

any of the compliance with the statutory and other requirements nor does it take any
responsibility for the financial or other soundness of this Issuer, its promoters, its management
or any scheme or project of this Issuer.
It is also to be distinctly understood that the approval given by NSEIL should not in any way be
deemed or construed that the prospectus has been cleared or approved by NSEIL; nor does it
in any manner warrant, certify or endorse the correctness or completeness of any of the
contents of this prospectus; nor does it warrant that the securities will be listed or will continue to
be listed on NSEIL.
Disclaimer Statement of RBI
A copy of the Prospectus has not been filed with or submitted to the Reserve Bank of India
(“RBI”). It is distinctly understood that the Prospectus should not in any way be deemed or
construed to be approved or vetted by RBI. RBI does not accept any responsibility or guarantee
about the present position as to the financial soundness of the Issuer or for the correctness of
any of the statements or representations made or opinions expressed by the issuer and for
discharge of liability by the Issuer. RBI neither accepts any responsibility nor guarantee for the
payment of any amount due to any investor in respect of the proposed NCDs.

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