Sachin Bansal's Navi Finserv to raise Rs. 600 crore through NCDs
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Sachin Bansal, co-founder of Flipkart, is set to raise up to Rs. 600 crore for his fintech start-up Navi Finserv through a new bond issue of Non-Convertible Debentures (NCDs). The bond issue will include a green shoe option of up to Rs. 300 crore to retain oversubscription, with the subscription period running from February 26, 2024 to March 7, 2024. Per Bansal, the funds raised would be utilized for onward lending, financing, loan repayment, and other general corporate purposes.