Navi mulls for Rs 3,000 crore IPO; Sachin Bansal's fintech firm eyes $2 billion valuation
Sachin Bansal's Navi is reviving its IPO plans and may seek to raise up to Rs 3,000 crore at a valuation of $2 billion, Bloomberg reported.
- Aug 13, 2026,
- Updated Aug 13, 2026 2:14 PM IST
Fintech startup Navi is preparing to formally begin the process for an initial public offering (IPO) in India and is looking to raise as much as Rs 3,000 crore ($315 million), suggest a report from Bloomberg, citing people familiar with the matter. The company, founded by former Flipkart co-founder Sachin Bansal, has appointed JM Financial, Kotak Mahindra Capital, Goldman Sachs Group and JP Morgan as advisers for the offering, according to the report.
The IPO is expected to consist of a primary share sale, with no secondary offering by existing shareholders, the people told Bloomberg. Navi is seeking a valuation of as much as $2 billion and is targeting to file its prospectus by December, though the people said deliberations are ongoing and details such as the size, valuation and timing of the IPO could still change.
Representatives for Navi and the banks did not immediately respond to requests for comment, Bloomberg reported. Navi is among a growing list of Indian financial services firms preparing to tap the equity markets in the coming months, including Muthoot Fincorp, Truhome Finance, InCred Holdings, Moneyview and Hero FinCorp.
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 had earlier filed a draft prospectus in March 2022 for an IPO of as much as Rs 3,350 crore and received regulatory approval in September that year. It later deferred the offering amid subdued investor sentiment linked to domestic and global headwinds.
Navi is a diversified financial services company with businesses spanning lending, mutual funds, health insurance and UPI payments. Bansal founded the company after leaving Flipkart in 2018 following Walmart Inc.'s $16 billion acquisition of the Indian e-commerce company.
The report added that Navi is now reviving its listing plans with a proposed primary issue of up to Rs 3,000 core, a target valuation of as much as $2 billion and a possible prospectus filing by December, while discussions on the offering continue.
Fintech startup Navi is preparing to formally begin the process for an initial public offering (IPO) in India and is looking to raise as much as Rs 3,000 crore ($315 million), suggest a report from Bloomberg, citing people familiar with the matter. The company, founded by former Flipkart co-founder Sachin Bansal, has appointed JM Financial, Kotak Mahindra Capital, Goldman Sachs Group and JP Morgan as advisers for the offering, according to the report.
The IPO is expected to consist of a primary share sale, with no secondary offering by existing shareholders, the people told Bloomberg. Navi is seeking a valuation of as much as $2 billion and is targeting to file its prospectus by December, though the people said deliberations are ongoing and details such as the size, valuation and timing of the IPO could still change.
Representatives for Navi and the banks did not immediately respond to requests for comment, Bloomberg reported. Navi is among a growing list of Indian financial services firms preparing to tap the equity markets in the coming months, including Muthoot Fincorp, Truhome Finance, InCred Holdings, Moneyview and Hero FinCorp.
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 had earlier filed a draft prospectus in March 2022 for an IPO of as much as Rs 3,350 crore and received regulatory approval in September that year. It later deferred the offering amid subdued investor sentiment linked to domestic and global headwinds.
Navi is a diversified financial services company with businesses spanning lending, mutual funds, health insurance and UPI payments. Bansal founded the company after leaving Flipkart in 2018 following Walmart Inc.'s $16 billion acquisition of the Indian e-commerce company.
The report added that Navi is now reviving its listing plans with a proposed primary issue of up to Rs 3,000 core, a target valuation of as much as $2 billion and a possible prospectus filing by December, while discussions on the offering continue.