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Flipkart co-founder Sachin Bansal-led fintech company Navi Technologies has filed its Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) to raise Rs 3,350 crore from the public markets in a fresh issue of shares.

The Bengaluru-based company — which started as a lending business in 2018 and has a presence in insurance, asset management, and microfinance — will issue fresh equity shares as part of its IPO (initial public offering). 

The company will invest Rs 2,370 crore of the proceeds into its lending business, Navi Finserv Private Limited (NFPL) and Rs 1,500 crore in its insurance subsidiary, Navi General Insurance Limited (NGIL), it said in the DRHP.

Sachin Bansal, who has invested nearly Rs 4,000 crore in Navi to date, will not dilute his stakes in the company during the IPO. 

Here are a few key takeaways from Navi’s DRHP.

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Aloke Bajpai and Rajnish Kumar, co-founders of ixigo, recently appeared in Prime Venture Podcast to share their startup’s journey. They spoke about the key factors that kept ixigo afloat during the initial days, driving product-led organic growth and more. Read more.

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Disrupting the event planning space

Planning and organising a celebration or an event can sometimes feel more like a project deadline rather than a special date on the calendar. Enter online event planning startup Meragi, which serves as a one-stop shop for everything needed to organise an event.

The online platform allows customers to discover, design, and purchase products and services for events such as weddings, birthdays, social parties, house warming, etc. Read more.

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“Technology is a terrible master but a wonderful servant. We can either condemn it or accept it and use its tools to make our lives more efficient.” 

— Sachin Shukla, Founder, UPDEED

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