Navi Finserv, a wholly owned subsidiary of Navi Technologies.
Navi Technologies has announced the public issue of Non-Convertible Debenture NCDs for Rs 600 crores, with a starting issue of Rs 300 crores and the option to keep the over-subscription amount of Rs 300 crores.
The issue will be opened on May 23, 2022 and closed on June 10, 2022 and will have a possibility of closure earlier or an extension.
Secured, graded, and listed redeemable NCDs are rated an “IND A/stable“ by India Ratings Research. The rating indicates that they provide a high degree of security regarding the prompt servicing of financial obligations.
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NAVI Finserv NCD Product Note
|Security Name||Navi Finserv Limited|
|Issue Size||The Company is proposing a public issue of Secured Redeemable Non Convertible Debentures of face value of ₹1,000 each (“NCDs”), for an|
amount aggregating to ₹ 3,000 million (“Base Issue Size”) with an option
to retain oversubscription up to ₹ 3,000 million (“Green Shoe Option”)
aggregating up to ₹ 6,000 million.
|Issue Price||Rs. 1,000 per NCD|
|Face Value||Rs. 1,000 per NCD|
|Minimum Lot Size||10 (Ten) NCDs|
|Min Application Size||Rs, 10,000 (10 NCDs)|
|Credit Rating||IND A/stable by India Rating|
|Mode of Allotment & Trading||Dmat only|
Interest Rate Chart
|Tenor||18 Month||18 Month||27 Month||27 Month|
Base Issue Size 300 Cr. 444.08 Cr Subscribe.
Green Shoe Option 600 Cr.