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Navi Revives Plan for Rs 3,000 Crore IPO

A listing would give Navi new capital to expand its lending and insurance businesses.

Companies have raised about $7 billion through IPOs in India so far this year, compared with $22.3 billion in all of 2025, according to data compiled by Bloomberg.
Navi

Overview

  • Multiple outlets reported on Thursday that Navi has restarted IPO preparations for a fresh-issue of about Rs 3,000 crore and is targeting a valuation of up to $2 billion, with a possible prospectus filing by December.
  • The company has been reported to have engaged JM Financial, Kotak Mahindra Capital, Goldman Sachs and JPMorgan as advisers for the proposed offering, according to those reports.
  • Sources cited in coverage say the planned IPO would be a primary fresh share issue with no offer-for-sale from existing investors.
  • Reports also indicate Navi explored a $250–300 million pre-IPO equity round with prospective investors including Prosus and Accel but faced pushback on the proposed valuation.
  • Navi has declined to confirm the reported timetable, size, valuation or advisers and the firm’s NBFC arm showed mixed results in FY26, leaving final terms and timing subject to change and market demand.