Fintech Startup Navi Said to Hire Banks for $315 Million IPO

Navi, the fintech startup founded by billionaire Sachin Bansal, has hired banks to prepare an initial public offering aiming to raise about $315 million, Bloomberg reported.

The report, which cites people familiar with the matter, indicates the company has moved from speculation to concrete deal preparation. Bankers are now in place to manage the offering.

Bloomberg's headline figure, "$315 Million IPO," represents the clearest signal yet of Navi's intent to tap public markets. The company has not publicly confirmed the fundraising target, and the report attributes the details to unnamed sources rather than official filings.

The identity of the banks and the expected listing timeline were not disclosed in the report. Bloomberg typically publishes such details in follow-up coverage as deal documentation progresses.

For investors tracking India's fintech sector, a Navi listing would add a prominent name to the IPO pipeline. The company, backed by Bansal — co-founder of Flipkart — has built a presence across digital lending and financial services.

Any offering would still require regulatory filings and formal terms before the $315 million figure becomes a firm deal size. Market conditions and investor demand will ultimately determine whether the IPO proceeds at that level.