Sachin Bansal’s Navi Technologies gets SEBI Approval for IPO

  • Navi Technologies Ltd. has received the market regulator’s final approval for its Rs 3,350-crore initial share sale.
  • The proceeds from the offer will go directly to the company, which will use them for investing in two subsidiaries-Navi Finserv Ltd. and Navi General Insurance Ltd. The company will inject Rs 2,370 crore into Navi Finserv, and Rs 150 crore in Navi General Insurance.

[Via]