Sachin Bansal's financial services platform, Navi Finserv secured Rs 150 crore through non-convertible debentures (NCDs) via private placement, according to media reports.
The NCDs, issued at Rs 1,00,000 each, attracted investment from the Dadachanji Group's Chairman Kairus Shavak Dadachanji and directors Pervin and Rishad Kairus Dadachanji, who collectively invested Rs 110 crore. Individual investors Rohit, Sandhya, and Yash Kapadia contributed Rs 40 crore, media reports reveal.
Previously, Navi Finserv announced plans to raise up to Rs 600 crore through NCDs, including a green shoe option of up to Rs 300 crore.
Founded in 2018, Navi Finserv is largely bootstrapped, making this its largest external fundraising to date. Despite filing for an IPO in March 2022, the company postponed the listing due to unfavourable market conditions.
Recently, reports indicated that Bansal was in talks to raise between USD 200 million and USD 400 million, valuing the company at around USD 2 billion.
