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Fintech startup Navi is reportedly preparing to file draft papers for a ₹3,000 crore IPO in the March quarter of FY27.
Founded by the Flipkart co-founder in 2018, Navi offers everything from personal and home loans to insurance, mutual funds and UPI payments, making it a one-stop financial app for millions of users.
Background: back in 2022, the company had planned a ₹3,350 crore IPO and even received SEBI's approval. But it hit pause as tech stocks crashed and volatile markets made investors wary of new listings.
Sone numbers: In FY25, Navi reported ₹2,689 crore in revenue, slightly lower than the previous year. At the same time, its expenses increased, while its cash reserves also declined.
Even so, Navi remains a major player in India's digital payments space. It is currently the fourth-largest UPI app, with a 3.5% market share, behind PhonePe, Google Pay and Paytm.
There is one more chapter to this story.
In October 2024, the RBI temporarily stopped Navi from issuing new loans after raising concerns over loan pricing, hidden charges and lending practices.
Just two months later, the restrictions were lifted after the company revamped its systems and committed to following the regulator's guidelines.
