CosmicTaco

Navi Finserv Cancels INR 1 Lakh Cr Bond Sale Amid RBI Scrutiny

CosmicTaco · 2024-10-21T19:19:12.681479+05:30

- Navi Finserv has withdrawn its planned INR 1 Lakh Cr bond sale. - The decision comes after the RBI barred Navi and three other NBFCs from issuing new loans due to high interest rates. - Shobhit Agarwal, head of Navi's lending division, stated there was no immediate need for external funding. - The RBI's action was based on concerns about the companies' pricing policies and excessive interest spread. - Navi Finserv's parent company, Navi Technologies, is planning an IPO. Source: [Inc42](https://inc42.com/buzz/navi-calls-off-inr-1-lakh-cr-bond-sale-after-rbi-crackdown/)

Navi Finserv has withdrawn its planned INR 1 Lakh Cr bond sale.
The decision comes after the RBI barred Navi and three other NBFCs from issuing new loans due to high interest rates.
Shobhit Agarwal, head of Navi's lending division, stated there was no immediate need for external funding.
The RBI's action was based on concerns about the companies' pricing policies and excessive interest spread.
Navi Finserv's parent company, Navi Technologies, is planning an IPO.

Source: Inc42

2mo ago

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