Navi Technologies, led by Sachin Bansal, co-founder of e-commerce company Flipkart, is also preparing to be listed on the stock market. Earlier, the company will raise Rs 3,350 crore through an initial public offering (IPO). If all goes well, there could be another opportunity for the investors earning from the IPO.
Navi Technologies has filed preliminary documents for this with SEBI. As per the draft Red Herring Prospectus (DRHP), the proposed IPO does not contain any Offer for Sale (OFS).
Flipkart co-founder Bansal is not reducing his stake in the IPO. He has so far invested around Rs 4,000 crore in Navi. People associated with the matter said that the IPO is likely to open in June.
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Flipkart’s IPO will also come: This news has come at a time when Flipkart also wants to bring an IPO this year. However, Sachin Bansal no longer has a stake in this company. Now Walmart has a stake in this company.