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Navi Technologies Ltd IPO

Price Range (₹)

To be announced

Issue Size (₹ in Cr.)

Upto Rs. 3350 crores

Minimum Quantity

To be announced

Bidding Period

To be announced

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About the Company

- A technology-driven financial products and services company in India focusing on the digitally connected young middle-class population of India
- Have adopted a mobile-first approach, utilising strong in-house technology and product expertise to build customer-centric products
-  Since the company’s incorporation, they have expanded offerings under the “Navi” brand to include personal loans, home loans, general insurance and mutual funds. Also offer microfinance loans, through a wholly-owned subsidiary, under the “Chaitanya” brand (Source: Company DRHP)

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Strengths

Mobile first approach driving better customer engagement and experience


Operate a mobile-first, app-only model for personal loans, home loans and health insurance products. This model enables them to (a) cater to digitally connected Indians, (b) avoid intermediation and reach customers directly in tier-1 cities and beyond, and (c) offer an unassisted buying journey with one of the lowest turnaround times amongst lenders in India, in the personal loans category, according to the RedSeer Report (Source: Company DRHP)

End-to-end ownership of product


Ability to develop simple and intuitive products from the ground up ensures end-to-end ownership of products. The company has limited dependency on third parties as they own the entire value chain right from in-house technology to product designing (Source: Company DRHP)

Risk management, data science and machine learning leveraged operating model


Underwriting, pricing, risk management and collections are driven by proprietary data science and machine learning capabilities. This provides a significant advantage over traditional lenders who, according to a RedSeer Report, are largely dependent on excessive paperwork and manual evaluation which can be tedious and time-consuming (Source: Company DRHP)

Risks

Business depends on the trust customers place in the brand, and any failure to maintain, protect, enhance and promote such trust would adversely affect business


Factors such as failure to satisfy the expectations of the quality or reliability of products and services, including temporary downtime or software bugs affecting the Navi App (Source: Company DRHP)

If customers default in their repayment obligations, the company's business, results of operations,financial condition and cash flows may be adversely affected


Customers may default on their obligations due to a variety of factors, including as a result of their bankruptcy, lack of liquidity, government or other regulatory intervention (Source: Company DRHP)

Financials

  • Net Worth
  • Total Income
  • Comprehensive total profit for the period
  • Total Borrowings
  • Basic Earning per Share (EPS)

Industry Trends

- Digital retail lending: Compared to USA and China, India has a smaller credit penetration, and its retail lending AUM stands at approximately US$500 billion with less than 10% of the retail loans being disbursed digitally. Looking at USA and China, the Indian retail lending space has significant room to grow both digitally and traditionally. The use of ML based underwriting, rising adoption of small-ticket personal loans and cross-selling loans within the consumer internet ecosystem will help digital lending grow in India. (Source: Company DRHP)


- Digital non-life insurance: Indian non-life insurance currently has low penetration and the market in terms of gross premiums underwritten stands at approximately US$28 billion with close to 1.5% digital penetration in terms of percentage of premium sourced digitally from insurtech as of the Financial Year 2021(Source: Company DRHP)


- Digital asset management: The Indian mutual fund asset management industry in the Financial Year 2021 has a digital penetration of 25- 30% out of an industry AUM of close to US$450 billion which is estimated to grow further. Growth in investor awareness, rising adoption of direct passive mutual funds, reducing returns or interest rates from traditional fixed-income investments, and increasing internet penetration provides a large opportunity to capture value in the asset management space. (Source: Company DRHP)

Subscription Status

Retail Individual Investor
Non-Institutional Investor
Qualified Institutional Buyers
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FAQs

What is an IPO?

An Initial Public Offering (IPO) is when a company issues common stock or shares to the public for the first time. It is the process where a privately held company becomes a publicly traded company with the initial sale of its stock. An IPO is a tool that companies use to secure capital through investments for future use. In most instances, this investment is used to expand or improve the business.

A price band is a price floor and a cap between which a seller will let buyers place bids on a security, usually during an initial public offering (IPO).

Minimum Order Quantity, as name says, is the minimum number of shares investors can apply while bidding in an IPO. If investors want to bid for more shares, they can apply in multiples of IPO market lot (lot Size or IPO bid lot) of shares.

If an investor wants to place bids for less than Rs.2 lacs, he needs to apply in the Retail segment. If an investor wants to bid for more than Rs.2 lacs, he needs to apply in the HNI segment.

Cut-off price is the offer price, finalized by a company in consultation with the book running lead managers (BRLMs), which could be any price within the price band. Applying on Cut-off price means the investor is ready to pay whatever price is decided by the company at the end of the book-building process.

When applying at a cut-off price, an investor has to pay the highest price while placing the bid. If a company decides the final price lower than the highest price asked for IPO, the remaining amount is returned to the retail investor.

An investor can apply in all Mainboard IPOs through ICICIdirect. However, if the investor wants to apply in SME IPOs, he/she can do it through the net banking portal of ICICI Bank.

ASBA stands for "Applications Supported by Blocked Accounts". At the time of bidding, investors’ account is blocked to the extent of the bid amount and debited only at the time of allotment. This facility is being offered by ICICIDirect in affiliation with ICICI Bank Limited.

In other payment options, the bid amount is debited when investors’ bid application is placed with the stock exchanges. Under the ASBA process, the amount will be debited from investors’ bank account to the extent of successful allotment at the time of allotment. Until such allotment, the amount will remain blocked in investors’ bank account.

Application under this facility can be placed only for Book Built Public Issues.

An investor can place maximum of 3 bids in an issue.

The investor with Demat account in ICICIdirect can apply in an IPO by logging in to his ICICIdirect Account. The investor needs to select IPO and then the name of the IPO in which he would like to apply. Given below is the path:

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Investor can apply in the retail section of an IPO through iDirect Portal even if he has a 2-in-1 account (Demat, Trading Accounts) with us and Bank account with third party.

Yes, the investor can revise or withdraw the bids after application. It can be done only once the order is executed. The investor needs to go to the IPO Order Book and select the Transaction Id and then click on Withdraw Application/ Revise Bid. The application in the non- institutional category cannot be withdrawn but can only be revised.

However, this needs to be done during the issue itself and cannot be done after the issue is closed. In case of ASBA applications, for upward revision of bid, additional lien will be marked to the extent of incremental amount. However, in case of downward revision, differential money blocked earlier will not be released. Such amount, if any, will be released after allotment

No, one person cannot apply multiple times with same Demat/PAN for an IPO. If an investor applies in an IPO though multiple applications with same Demat account or same PAN Number, his applications will be rejected.

If an investor would like to place order for multiple applications, he/she can apply with his/her family member's name. But, all eligible family members should have a Demat account and a PAN number.

In cases where issue is over-subscribed, bidding for more than 1 lot from the same account doesn’t help as maximum of only 1 lot can be provided against each application. However, if the investor applies for 1 lot from different accounts, the probability of allocation of shares increases.

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