INE342T07726 | 10.50% | Navi Finserv Ltd.

10.50%

YTM

₹10,138.74

Minimum investment

Monthly

Payout

31 Aug 2029

Maturity

10.75%

Coupon Rate

₹10,000

Face Value

Currently subscribed50 Units available

0% Sold

10.50% / -25 bpsYTM vs coupon

yield above stated coupon

101.7997 / 101.3874Clean / dirty price

Excluding / including accrued interest

About the Issuer

Navi Finserv Limited (NFL) is a non-deposit-taking, systemically important NBFC registered with the Reserve Bank of India and a wholly owned subsidiary of Navi Technologies Limited, founded by Sachin Bansal. The company provides digitally driven lending solutions, primarily personal loans and home loans, through its technology-first platform. Backed by strong promoter support and a scalable digital business model, NFL continues to demonstrate stable growth and financial resilience in India’s fintech lending ecosystem.

Debenture trustee: Catalyst Trusteeship Limited...
Issuance date: 15 Jun 2026

Why this bond?

Adequate capitalization at the Navi group level supports the issuer’s credit profile.
Technology-driven underwriting and risk management systems support lending operations.
Diversified funding profile across banks, NBFCs, NCDs, securitization and commercial paper.

Monthly Interest PayoutPrincipal Paid at Maturity

₹10,138.74Principal Invested

₹3,092.45Interest earned

₹13,092.45Final Payout

Interest Payout Schedule

Interest payout schedule for selected units, with payout date, interest amount, and principal amount.
Payout Date	Interest (₹)	Principal (₹)
15 Nov 2026	₹91.3	--
15 Dec 2026	₹88.36	--
15 Jan 2027	₹91.3	--
15 Feb 2027	₹91.3	--
15 Mar 2027	₹82.47	--
15 Apr 2027	₹91.3	--
15 May 2027	₹88.36	--
15 Jun 2027	₹91.3	--

Key Strengths

Adequate Credit Rating

The debentures are rated IND A (Stable), indicating an adequate degree of safety regarding timely servicing of financial obligations.

Secured Debenture Structure

The debentures are secured and benefit from a first-ranking charge on identified hypothecated assets, enhancing investor protection.

Diversified Lending Platform

The issuer offers personal loans, home loans and loans against property, along with co-lending and securitisation activities, supporting business diversification.

Key Risks

Regulatory Risk

Changes in RBI, SEBI or other regulatory requirements applicable to NBFCs may increase compliance costs or affect lending and operational practices.

Asset Quality Deterioration

Deterioration in loan portfolio quality, rise in delinquencies or NPAs, and weaker borrower repayment behaviour could adversely affect earnings and cash flows.

Dependence on Funding Access

The company relies on continued access to debt and capital markets for funding. Any disruption in market liquidity or lender appetite may impact business growth and refinancing.

Secured NCDDiversified FundingIND A / StableAdequate Capitalisation

A/ StableWatch Resolved

Rating rationale summary

India Ratings affirmed Navi Finserv’s IND A/Stable rating after RBI restrictions were lifted, supported by capitalisation, tech-led underwriting and funding diversity, despite regulatory, profitabilit

Summary points

Adequate group capitalisation supports credit profile.
Technology-led underwriting and collections support asset quality.
Diversified borrowing profile improves funding flexibility.
Profitability and growth remain monitorables after regulatory actions.

Rating history timeline

Initial Rating

NCDs assigned IND A/Stable

Reaffirmation

Rating maintained at IND A/Stable

Reaffirmation

Rating maintained at IND A/Stable

Watch Resolved

Affirmed and removed from Rating Watch Negative Implications

Outlook implications

Stable outlook reflects adequate group capitalisation, established underwriting systems, diversified funding profile and resumption of loan disbursements after regulatory observations were addressed.

Implications for investors

RBI restrictions were lifted and disbursements resumed, but profitability and growth remain monitorable under tighter regulations.

Watch for: Ability to sustain growth, profitability, asset quality and liquidity amid tighter regulations and lower lending yields

Rating Drivers

Adequate capitalisation at group level

Tech-based underwriting and risk systems

Diversified borrowing and lender base

Franchise growth may slow under tighter regulation

Lower yields may pressure profitability

Unsecured lending portfolio remains vulnerable

How this issuer compares to peers

Benchmark yield, balance-sheet strength, and risk indicators against similar issuers to make the credit case easier to validate.

Where it stands out

Technology-led NBFC with strong capitalisation and diversified funding access

Strong Capitalisation Digital Lending Platform Diversified Funding Profile Adequate Liquidity PositionNavi Finserv's digital lending platform, strong capitalisation, diversified funding sources and comfortable liquidity support scalable growth.

Invest

Units

Trade & Settlement

Settlement date

01 Oct 2026

Orders placed after 4 PM will be executed on the next business day. Weekends and exchange holidays are skipped.

Totals (For Selected Units)

Price per Unit

₹10,138.74

Investment amount

₹10,138.74

Total Interest

₹3,092.45

Total Receivable

₹13,092.45

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Navi Finserv Ltd.