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Navi Technologies Limited IPO

Navi Technologies Limited
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About Navi Technologies Limited

Navi Technologies Limited is a tech driven financial services company founded by Flipkart’s Sachin Bansal and Ankit Agarwal in 2018. Navi’s offerings include personal loans, home loans, mutual funds, health insurance and general insurance. Navi has a subsidiary ‘Chaitanya Microfinance’ that offers micro credit to low income groups especially women in rural areas. 

Under the MF umbrella, Navi Technologies has an ETF fund; it also acquired Essel MF. It holds Rs 900+ crore MF assets.

Navi acquired DHFL general insurance in 2020 and offers simple insurance products under the Navi brand. Co has an AUM of Rs 1800 cr in microfinance loans.

The proceeds raised from Navi Technologies Limited IPO will be used for augmenting the capital base of the company’s subsidiary, an NBFC, Navi Finserv (NFPL).  The funds will also be used to shore up the capital base and maintain the current solvency levels of Navi General Insurance. 


India is one of fastest growing fintech markets in the world with an adoption rate of 87% against the global average of 64%. There are more than 6000 fintech startups in India with an estimated revenue of USD 50 billion in 2021. The industry is expected to reach USD 200 billion in revenue by 2030. The sector has 20+ unicorns already. There is a huge potential in India for the fintech sector due to a large underbanked population and groups underserved by traditional banking and credit system.

Why To Invest in Navi Technologies Limited

Navi Technologies is  leading fintech player with expertise in digital first model, operating in  underpenetrated target segment, with huge growth potential. The funds raised through IPO will be invested in its subsidiaries Navi Finserv Pvt. Ltd and Navi General Insurance Ltd and other general corporate purposes.

Strengths And Risks
Digital Revolution: Digitisation has revolutionised the banking and financial services sectors. Navi’s digital first business model is poised to serve the rural and semi urban population with better reach, faster turnaround and better customer experience.
Diversified Product Portfolio: Navi Technologies has a diversified portfolio of offerings including general insurance, personal loans, micro finance, investments and home loans. They are well positioned to fulfill different financial needs of the customers and a diversified revenue model.
End to end Product Ownership: Navi is positioned as an end to end digital ecosystem player with complete control over their product offerings, insurance, lending and asset management. They are not into digital payments space unlike other fintechs, and control the entire process and distribution of their products.
Technological Capabilities: Navi has an in-house full stack technological capabilities and they use in-house data science and machine learning models for risk management, collections and underwriting.
Interest Rate Volatility: Lending business is prone to fluctuations in interest rates, which can impact the loan portfolio, volumes and profitability.
Default Risk: Lending business especially in the small loan portfolio is more vulnerable to default risk. 25% of the company's AUM comes from low income groups and 45% of revenue comes from lending business.
Competition: Fintech sector is highly competitive with new age fintechs, traditional banks and NBFCs, AMCs and foreign players all are in the fray. This creates pricing pressure and risk of losing business to competition.
Unexpected Events: Insurance business is vulnerable to higher claims due to Covid like events which can increase claims and impact profits.
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