Navi Technologies files draft papers with Sebi for Rs 3,350-crore IPO

Sachin Bansal-led Navi Technologies has filed its preliminary papers with the Securities and Exchange Board of India (Sebi) on Saturday to raise Rs 3,350 crore through an initial public offering (IPO). The company is a tech-driven financial products and services company founded in 2018.

According to the offer documents filed with the regulator, the entire public issue consists of fresh issue of shares, and shareholders of the company will not offload any shares through the offer-for-sale (OFS) route.

Sachin Bansal, the co-founder of the company, has invested around Rs 4,000 crore till date in the company, will not offload his stake through the offer.