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Navi Finserve NCD May 2022 Details

Navi Finserve Company Details
The Company launched its personal loans product under the “Navi” brandin April 2020. Under this business, it extends instant personal loans up to Rs 2.0 million with tenors of up to 84 months through an entirely digital Navi App-only process. Since its launch and up to December 31, 2021, it has disbursed 481,121 personal loans amounting to Rs 22,463.12 million. During the nine months ended December 31, 2021, it disbursed 308,383 personal loans amounting to Rs 15,724.41 million, with an average ticket size of Rs 50,990.
It believes its digital lending process is one of the key differentiators driving business growth. Its Promoter has adopted a mobile-first approach, utilising its strong in-house technology and product expertise to build customer centric products. The Company has entered into an Outsourcing Agreement with its Promoter for inter alia, technology based services, cash management and loan distribution, operations, collections, risk management, ALM, taxation and tax reporting and accounting. Pursuant to the Outsourcing Agreement, its products are exclusively distributed through the Navi App, the digital platform provided by its Promoter.Navi App provides an easy to use and engaging experience to its personal loan and home loan customers while minimising manual intervention and paperwork.

The collection efficiency for its personal loans disbursed subsequent to April 1, 2021 was 96.63% till December 31, 2021 (constituting 70.00% of disbursals). Within 21 months of launch, it has approved personal loans to customers across over 84% of all Indian pin codes. As of December 31, 2021, the Company’s personal loans business had an AUM of Rs 14,186.92 million.

Our microfinance loans business is carried out through our Subsidiary, CIFCPL, to extend credit to low-income women in rural and semi-rural areas across India. OurSubsidiary’smicrofinance loans business runs on a joint liability group-lending model, wherein a small number of women form a group (typically four to seven) and guarantee one another’s loans. As of December 31, 2021, our Subsidiary’s microfinance business had a closing AUM of ?18,088.54 million. Our microfinance loans are not offered through the Navi App and this business is operated separately from our other technology-based business lines described above.
As on December 31,2021, we had CRAR of 32.14% and 20.04% in our Company and our Subsidiary, CIFCPL, respectively which is higher than statutory minimum CRAR of 15.00% as prescribed by RBI
For more information, click www.navifinserv.com

Promoters of Navi Finserve
Navi Technologies Limited

Objects of the Issue :
The Company proposes to utilise the net proceeds towards,
1.For the purpose of onward lending and financing (At least 75%)
2.General corporate purposes ( Maximum up to 25%)

Navi Finserve NCD May 2022 Detail
Issue Period : 23 May 2022 to 1 June 2022
Security Name Navi Finserve Limited
Security Type Secured, Redeemable, Non-Convertible Debentures (Secured NCDs)
Issue Size (Base) Rs.300 Cr with an option to retain over subscription up to Rs 300 Cr aggregating up to 6,000,000 NCDs for an amount up to Rs 600 Cr

Issue Price Rs 1000 per NCD
Face Value Rs 1000 each NCD
Minimum Lot size 10 NCD
Market Lot 1 NCD
Listing At BSE & NSE
Credit Rating : IND A/ Stable by India Ratings & Research Pvt Ltd for an amount of up to Rs 600Cr
Tenor 18 and 27 months
Series Series I to IV
Payment Frequency Monthly and Cumulative
Basis of Allotment First Come First Serve basis

Payment Frequency Monthly, Annual and Cumulative
Basis of Allotment First Come First Serve Basis

Navi Finserve NCD May 2022 Rating
IND A/ Stable by India Ratings & Research Pvt Ltd for an amount of up to Rs 600 Cr

Navi Finserve NCD May 2022 Financial & Analytical Ratios
For the year 2020-21
Total Revenue Rs. 336.74Cr
Net Profit after Tax Rs 97.54 Cr.

Navi Finserve NCD May 2022 Lead Managers 
A.K. Capital Services, J M Financial,
Registrar to Navi Finserve NCD May 2022
Link Intime India pvt ltd
Debenture Trustee for Navi Finserve NCD May 2022
Catalyst Trusteeship Services Limited*

Registered Office of Navi Finserve Ltd
GroundFloor, SalarpuriaBusiness Center No 93, Koramangala Industrial Layout, Bengaluru560 095
Company Secretary & Compliance Officer : Puneet Bhatia

Guidance by Paresh Gordhandas ( Research Analyst)

Will be posted soon