Navi Group plans to launch IPO in financial year 2026: Report

Navi Group, the non-banking finance company (NBFC) that is supported by ex-Flipkart co-founder Sachin Bansal, is gearing up to list in the second half of the financial year 2026, The Economic Times reported. The firm is in talks with bankers to decide on the best time for its IPO.

In a one-on-one interview with ET, Bansal said that while specifics on dilution and valuation are still pending, Navi is well-set to make its market debut. "We desire to go public, and we're negotiating with bankers to find the appropriate timing," he said. "The business is well placed, and though I am not in a position to give a timeline, we are certainly exploring it.

Bansal did not rule out an IPO in the upcoming fiscal year, suggesting that further clarity on key milestones will emerge following consultations with the company’s board.

This is not Navi’s first attempt at an IPO. In September 2022, the company secured approval from the Securities and Exchange Board of India (SEBI) for a Rs 3,350-crore public offering, though the plan was shelved at the time.

Simultaneously, Navi Finserv, the group's lending subsidiary, is focusing towards a more secured loan book and diversifying its financial products. Bansal charted out the company's vision of attaining a balanced 50-50 proportion between secured and unsecured loans in the next three to five years. "Unsecured loans can function at a modest level, but as we expand, we require more secured loans for stability and reduced funding costs," he explained. Navi has also made substantial strides in the home loan segment, which has already achieved break-even, and is looking to grow further in retail and MSME lending.

With a lofty goal of making Navi a top non-bank lender, Bansal wants to take its assets under management past Rs 50,000 crore. As of December 2024, Navi Finserv had a loan book of Rs 7,700 crore and a net profit of Rs 192 crore in April-December 2024. The total income of the company was Rs 1,770 crore for the period, and its gross non-performing asset (NPA) ratio was at 2.47 per cent.

Last week, Navi Group restructured its top management by appointing Rajiv Naresh as the CEO of Navi Technologies Limited and Abhishek Dwivedi as the CEO of Navi Finserv Limited (NFL). Meanwhile, Bansal has been elevated to the position of Executive Chairman of the Navi Group.