Navi Finserv To Raise Rs 600 Cr From Public Bond Sale
Navi, which deals with idiosyncratic and location loans, is seeking to grow its recognition portfolio via integer lending.
Navi Finserv, controlled by Flipkart cofounder Sachin Bansal, is acceptable to rise Rs 600 crore via a nationalist issuance of bonds, supposedly the archetypal alike retail bond sale by a fintech institution successful India, three radical acquainted with the substance. Navi, which deals successful idiosyncratic and location loans, is seeking to grow its recognition portfolio via integer lending.
The bonds, rated A, will connect arsenic overmuch arsenic 9.75 per cent with 27-month maturity. Another bid will connect 9.50 per cent with 18-month maturity.
"The institution has a integer retail interface, which can be strengthened via nationalist issuance of bonds adjacent if a retail contented is simply a spot much costly than backstage placement," said 1 of the people.
