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Navi Technologies has received a go-ahead from market regulator Sebi to launch its initial public offering (IPO). The Sachin Bansal-led firm had filed an offer document for a Rs 3,350-crore fund raise in March.
Navi plans to use the IPO proceeds to scale up its lending and insurance verticals. The company provides digital-first distribution for personal loans, home loans and health insurance offerings to its customers without the need of physical infrastructure.
Its arm Navi Mutual Fund is largely focused on offering low-cost passive funds. Started about three years ago, Bansal has invested around Rs 4,000 crore into the company.
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First Published: Mon, September 12 2022. 18:06 IST