Sachin Bansal-backed Navi plans Rs 3,000 crore IPO, to file papers with Sebi by March quarter

Sachin Bansal-backed Navi plans to file draft papers for a Rs 3,000 crore IPO with Sebi by the March quarter, with Kotak Investment Banking managing the issue. The structure will comprise a mix of fresh equity and an offer for sale, though details are yet to be finalised. Separately, Navi is raising its first external equity funding round led by Prosus, which is pushing for a valuation of around Rs 13,000 crore against the earlier discussed range of Rs 17,000-19,000 crore.