IPO · Financial Services

Navi plans IPO by January-March 2027, seeks ₹3,000 crore raise

What they do

Navi, co-founded by Flipkart co-founder Sachin Bansal, is preparing to file draft papers for an IPO by January-March 2027

The IPO is expected to raise about ₹3,000 crore, including both a fresh issue and an offer for sale

Navi previously filed for a ₹3,350 crore IPO in 2022 but did not proceed due to weak market conditions

Navi is preparing to file draft papers for an IPO by the January-March quarter of FY27.
The company aims to raise about ₹3,000 crore through the IPO, which may include both a fresh issue and an offer for sale.
Kotak Investment Banking is working with Navi on the planned public issue.
This would be Navi’s second attempt to list on the stock exchanges.
Navi previously filed for a ₹3,350 crore IPO in 2022 but did not proceed due to weak market conditions.
Before returning to the public markets, Navi is in talks to raise its first external equity funding round, led by Prosus.
Prosus is willing to invest at a valuation of about ₹13,000 crore.
Earlier reports suggested Navi was looking to raise $250 million to $300 million from Prosus and Accel Growth Fund at a valuation of $1.8 billion to $2 billion.
Navi’s IPO would be one of the larger fintech listings planned in India’s public markets.

Navi’s IPO comes as India’s fintech IPO market remains uneven, with companies like PhonePe and Razorpay also exploring listings.
Navi’s FY25 annual report showed a PAT of ₹358.5 crore in FY24 and a loss of ₹119.3 crore in FY25.
Navi Finserv faced regulatory action in October 2024 but had restrictions lifted in December 2024 after submitting revised processes.
Navi’s board includes Sachin Bansal as chairman and Rajiv Naresh as managing director and CEO.

Navi provides a range of digital financial services, including personal loans, home loans, health insurance, mutual funds, and UPI payments.
The company operates through its NBFC arm and partners, offering loans against property and instant disbursal.
Navi’s subsidiaries include Navi Finserv, Navi General Insurance, and Navi AMC.
Navi’s FY25 annual report showed a PAT of ₹358.5 crore in FY24 and a loss of ₹119.3 crore in FY25.
Navi’s consolidated net profit for its NBFC arm plunged 46% YoY to ₹93.3 crore in FY26.
Navi’s operating revenue increased 17% to ₹2,691.5 crore in FY26.

Navi plans to file draft papers for its IPO by January-March 2027.
The company is in talks to raise its first external equity funding round, led by Prosus.

Product: Consumer-facing digital financial services platform with UPI payments, loans, mutual funds and insurance.
Customers: Indian consumers seeking everyday payments and personal finance products.
How it makes money: Earns from financial product distribution, lending activity and related service fees.
What sets it apart: Vertically integrated platform spanning payments, lending, investing and insurance.
Operations: Operates through Navi Finserv, an RBI-registered NBFC, for lending and related financial services.