Blog

Sachin Bansal-led Navi Technologies had an eventful Tuesday.

The fintech company said it will issue non-convertible debentures (NCDs) aggregating Rs 300 crore, with a green-shoe option to retain an oversubscription of up to Rs 300 crore. The issue will open on May 23.

“We have been working hard in silence since the last few years and building our business. This issue will take us to the next level of growth. We are a growing company and hence, will raise a mix of both debt and equity,” Sachin Bansal, Chairman of Navi Technologies, said.

The development came on the same day the Reserve Bank of India (RBI) rejected the application of Chaitanya India Fin Credit Private Limited, the microfinance entity of Navi Technologies, for an on-tap universal private bank licence.

However, the four-year-old company is on its way to raise Rs 3,350 crore through an IPO (initial public offering). It filed its draft red herring prospectus (DRHP) in March. 

Editor’s Pick: Product Roadmap

When Anurag Bhagi took up teaching gigs while pursuing a degree in computer science from MIT, he realised that K12 education was broken and “outdated” in nearly every country in the world. This led him to found Camp K12.

The startup teaches young children coding with a focus on practicality, instead of the traditional theoretical approach. Read more.

Startup Spotlight

SMEs got talent 

Despite the availability of tech and a number of job platforms, small and medium enterprises (SMEs) struggle to hire qualified candidates as they lack the resources to buy and operate expensive software licences, database access, or push premium job ads.

Enter Expertia AI, a Bengaluru-based SaaS (Software-as-a-Service) startup offering customised hiring solutions for SMEs, helping them automatically source and identify the top 10 candidates from a pool of applicants. Read more. 

News & Updates

Before you go, stay inspired with… 

“Every failure will teach you something so take every hurdle as a learning lesson. Let the struggle motivate you and make your resolve even stronger.”

— Akanksha Arora, CEO, Tribe Amrapali

Now get the Daily Capsule in your inbox. Subscribe to our newsletter today!