Navi Targets ₹3,000 Crore IPO Filing By March 2027; Prosus-Led Funding Round In Progress

Navi, the fintech company co-founded by Flipkart's Sachin Bansal, is working towards filing draft initial public offering (IPO) papers with SEBI in the March quarter of FY27, with plans to raise approximately ₹3,000 crore, according to The Economic Times report.

The issue is expected to include both a fresh equity component and an offer for sale, though the precise structure has not been finalised. Kotak Investment Banking has been appointed to manage the listing process.

A Second Attempt After A Four-Year Wait

This is not Navi's first run at a public listing. The company had secured Securities and Exchange Board of India (SEBI) approval in September 2022 for a ₹3,350 crore IPO but shelved the plan when markets turned volatile and technology stocks corrected sharply.

In the years since, Navi has broadened its product range from primarily digital lending to a wider financial services platform covering personal loans, home loans, loans against property, health insurance, mutual funds and UPI services. Lending remains the core revenue driver, while payments and bill services are used mainly for customer acquisition.

Funding Round First

Before heading to the public markets, Navi is closing its first external equity raise. Dutch technology investor Prosus is leading the round, though discussions are ongoing. According to The Economic Times, Prosus is comfortable investing at a valuation of around ₹13,000 crore, while Navi had earlier been in talks to raise $250 to $300 million at a valuation of $1.8 to $2 billion. The funding round is expected to establish a valuation reference point ahead of the IPO.

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Business And Financials

Monthly loan disbursals at Navi's lending business currently run between ₹3,000 crore and ₹4,000 crore, recovering well after the RBI had directed its subsidiary Navi Finserv to halt disbursals in October 2024 over supervisory concerns including excessive pricing. The restrictions were lifted in December 2024.

For FY26, Navi posted operating revenue of ₹2,461 crore with net profit rising 32% to ₹292 crore. In the December 2025 quarter, operating revenue grew 14% to ₹654 crore while net profit rose 21.7% to ₹75.5 crore. The company had reported a net loss of ₹126.3 crore in FY25, though FY24 profit had been boosted to ₹168.9 crore by the sale of its microfinance arm Chaitanya India Fin Credit to Svatantra Microfin for ₹1,479 crore.

Bansal assumed the role of executive chairman in February 2025, with Rajiv Naresh and Abhishek Dwivedi appointed as CEOs of Navi Ltd and Navi Finserv, respectively.