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E-Commerce Billionaire Sachin Bansal’s Navi Files for $440M IPO

Navi Technologies Ltd., the fintech startup founded by technology billionaire Sachin Bansal, has filed initial documents for a 33.5 billion-rupee ($440 million) initial share sale, a sign India’s technology startup industry hasn’t fully lost IPO momentum.

Navi’s IPO will consist entirely of new shares, according to its draft prospectus, meaning that all proceeds will be plowed directly back into the company.