Sachin BansalInCred Holdings LtdNavi LtdKotak Mahindra Capital CoMuthoot Fincorp LtdHero FinCorp LtdJPMorgan Chase & CoTruhome Finance LtdMoneyview LtdGoldman Sachs Group IncJM Financial LtdNavi

Fintech startup Navi, founded by Sachin Bansal, said to hire banks for ₹3,000 crore IPO; targets $2 billion valuation, filing by December

Fintech startup Navi, founded by Sachin Bansal, is set to hire banks for a ₹3,000 crore ($314 million) IPO, targeting a valuation of $2 billion. The company aims to file its prospectus by December, joining other Indian financial firms preparing for equity market entries.

Bloomberg.com Bloomberg.com+1 source13 August 2026 · 12:16 UTC
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Fintech startup Navi Ltd is gearing up for an initial public offering (IPO) in India, aiming to raise up to ₹3,000 crore ($314 million). Founded by Sachin Bansal, the company has enlisted JM Financial Ltd, Kotak Mahindra Capital Co, Goldman Sachs Group Inc, and JPMorgan Chase & Co as advisers for the offering.12456

The IPO is expected to consist of a primary share sale, with no secondary offering from existing shareholders. Navi is targeting a valuation of $2 billion and plans to file its prospectus by December. However, details regarding the size, valuation, and timing of the IPO may change as deliberations continue.3

Navi joins a wave of Indian financial services firms looking to enter the equity markets, including Muthoot Fincorp Ltd, Truhome Finance Ltd, InCred Holdings Ltd, Moneyview Ltd, and Hero FinCorp Ltd. So far this year, companies have raised approximately $7 billion through IPOs in India, compared to $22.3 billion in all of 2025, according to Bloomberg data.

Previously, Navi filed a draft prospectus in March 2022 for an IPO of up to ₹3,350 crore but deferred the offering due to subdued investor sentiment amid domestic and global challenges.

Key Insight
“The IPO will be a primary share sale with no secondary offering, and Navi is seeking a valuation of up to $2 billion. The company previously deferred a 2022 IPO amid subdued investor sentiment, but now joins a wave of Indian financial firms tapping the equity market.”
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1
Bloomberg.comBloomberg.com
“Fintech startup is preparing to formally kick off the process for an initial public offering in India, seeking to raise as much as 30 billion rupees ($314 million), according to people familiar with the matter.”
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2
BusinessLineBusinessLine
“Fintech startup Navi Ltd is preparing to formally kick off the process for an initial public offering in India, seeking to raise as much as ₹3,000 crore ($314 million), according to people familiar with the matter.”
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