We can use more capital, plan to go public in FY26: Sachin Bansal on Navi IPO

Sachin Bansal, founder and executive chairman of Navi Group

Sachin Bansal, founder and executive chairman of Navi Group, has confirmed that the company is looking to go public in the financial year 2026, citing the need for more capital to support its growth.

“We have reached a stage where we have 20 million monthly active users, 40 million who ever used the platform. The company has grown to a very decent stage. Now we are at a place where we can use more capital, and I think public markets is the best source of capital,” Bansal said during a chat at Startup Mahakumbh in New Delhi.

“…if you can handle the pain or what comes with it (public market listing)… so definitely, the plan is to go (IPO) in FY26. This is what we ideally want,” he added.

This marks a renewed push for Navi’s IPO ambitions after its previous attempt in 2022, when it filed a draft red herring prospectus (DRHP) with SEBI for a Rs 3,350 crore public issue but later withdrew due to market conditions.

Navi, which operates in digital lending and insurance, recently underwent a top-level reshuffle, with Bansal resigning as CEO.

Rajiv Naresh has taken over as CEO of Navi Technologies Limited (NTL), while Abhishek Dwivedi now leads Navi Finserv Limited (NFL). Bansal continues as the Executive Chairman of Navi Group.

The restructuring follows regulatory scrutiny by the Reserve Bank of India, which had barred Navi from lending for about 40 days before allowing it to resume issuing credit products.

At the time, RBI cited concerns over “usurious interest” rates and “evergreening of loans” that pushed small-ticket borrowers into deeper debt.