Navi Plans ₹3,000 Crore IPO by March 2027, Revives Public Listing After Four-Year Gap

Navi Ltd, the fintech startup co-founded by Flipkart co-founder Sachin Bansal, is reportedly preparing to revive its public listing plans with a ₹3,000 crore Initial Public Offering (IPO) targeted for the March quarter of FY27. The proposed IPO comes nearly four years after the company first attempted to go public but postponed its plans due to weak market conditions and a sharp correction in technology stocks.

According to people familiar with the matter, the Bengaluru-based fintech company is working with Kotak Investment Banking on the proposed issue. The IPO is expected to include a combination of fresh equity issuance and an Offer for Sale (OFS) by existing shareholders, although the final structure is yet to be decided.

If launched as planned, the Navi IPO would mark one of the most closely watched fintech listings in India, reflecting renewed confidence in the country's capital markets and improving investor appetite for technology-driven financial services companies.

Navi IPO: Key Highlights

Navi is aiming to raise approximately ₹3,000 crore through its proposed IPO. While the company has not officially announced the issue, sources indicate that preparations are underway for filing draft papers during FY27.

Navi Revives IPO Plans After Four-Year Gap

The upcoming IPO marks Navi's second attempt to enter the public markets.

In 2022, the company had filed draft papers with the Securities and Exchange Board of India (SEBI) to raise ₹3,350 crore through an IPO. Although it received regulatory approval in September 2022, the company decided to defer the listing amid heightened market volatility and a significant decline in technology stock valuations.

With market conditions improving and investor sentiment toward fintech companies recovering, Navi is now looking to restart its listing process.

IPO Likely to Include Fresh Capital and OFS

Sources suggest the proposed issue will comprise both:

• Fresh equity issuance, enabling Navi to raise growth capital for business expansion.
• Offer for Sale (OFS), allowing existing shareholders to partially monetize their investments.

The exact allocation between the fresh issue and OFS is still under discussion.

Navi's Growing Presence in India's Fintech Sector

Founded by Sachin Bansal, Navi has built a diversified digital financial services platform offering:

• Digital personal loans
• Home loans
• Health insurance
• General insurance
• Mutual funds
• UPI-based digital payments
• Wealth management solutions

The company has focused on technology-driven lending and financial services aimed at improving accessibility and simplifying customer onboarding.

Market Analysis

The proposed Navi IPO comes at a time when India's primary market is witnessing renewed momentum, with several large companies preparing public offerings across sectors. Improving market sentiment, easing volatility, and strong participation from domestic investors have encouraged technology and fintech firms to revisit delayed listing plans.

For Navi, the IPO could provide additional capital to support future expansion while enhancing its visibility in India's rapidly growing digital financial services industry. Investors are expected to closely watch the company's financial performance, lending growth, profitability, and regulatory developments ahead of the public issue.

What Should Investors Watch?

Investors should monitor the filing of Navi's draft red herring prospectus (DRHP), the final IPO structure, financial performance, valuation expectations, and SEBI approvals. The mix between the fresh issue and Offer for Sale, along with management's growth strategy, will be key factors influencing investor interest.

Key Takeaways

How much does Navi plan to raise through its IPO?

Navi is reportedly targeting a ₹3,000 crore IPO.

When is the Navi IPO expected?

The company is aiming to launch the IPO by the March quarter of FY27 (March 2027).

Why did Navi postpone its previous IPO?

Navi delayed its 2022 IPO despite receiving SEBI approval due to market volatility and a sharp correction in technology stocks.

Who founded Navi?

Navi was co-founded by Sachin Bansal, the co-founder of Flipkart.

What businesses does Navi operate?

Navi offers digital financial services including personal loans, home loans, insurance, mutual funds, UPI payments, and wealth management.