 "Sachin Bansal")
Venture capitalist Sachin Bansal-led Navi Finserv non-convertible debentures base issue of Rs 300 crore has been subscribed 1.4 times to date, according to a regulatory filing.
The fintech firm's secured, rated, listed and redeemable non-convertible debentures (NCDs) have a total value of Rs 600 crore after including the greenshoe option of Rs 300 crore.
According to the data available on NSE and BSE, qualified institutional buyers have opted for 5.08 times their quota, corporate bidders subscribed for 0.52 times, high networth individuals 0.22 times and retail investors 0.71 times.
The bond was opened on May 23, 2022, but will close eight days before the last date of June 10 as the base issue has been oversubscribed.
Navi had recorded revenue of Rs 316.45 crore in the nine months ended December 31, 2021.
The company provides loans to low-income groups, self-employed individuals etc.
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