Sachin Bansal’s Navi Finserv plans raising Rs 600 cr

The issue will open on May 23 and is scheduled to close on June 10 with an option of early closure or extension.

DTNEXT Bureau

Published:19th May, 2022 at 9:02 AM

BENGALURU: Navi Finserv Limited (NFS), a wholly owned subsidiary of Navi Technologies Limited (Navi), has announced the public issue of secured, rated, listed and redeemable non-convertible debentures (NCDs) amounting to Rs 600 crore with a base issue of Rs 300 crore and an option to retain over-subscription of another Rs 300 crore.

The issue will open on May 23 and is scheduled to close on June 10 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.

Visit news.dtnext.in to explore our interactive epaper!

Download the DT Next app for more exciting features!

Click here for iOS

Click here for Android

Sachin Bansal’s Navi Finserv plans raising Rs 600 cr

The issue will open on May 23 and is scheduled to close on June 10 with an option of early closure or extension.

Also Read

Chennai Citizen Connect: Redevelopment works at Egmore pose safety risks for commuters

TN’s coastal ecosystem provides economic benefits worth $127 million

Tamil Nadu town panchayats to begin breakfast scheme for cleanliness workers before Pongal

Chennai: Encroachments leave no space for pedestrians on Purasawalkam High Road

AIADMK to conduct conclaves to rev up support of youth, women