India’s Competition Commission Clears Prosus’ $100 Million Investment in Navi

India’s Competition Commission (CCI) has approved Prosus’ $100 million investment in fintech startup Navi, allowing the global venture capital firm to acquire a minority stake in the IPO-bound company.

The clearance removes the final regulatory hurdle for the deal, which was announced in August and is subject to customary closing conditions.

Deal details and company statements

Prosus, the international investment arm of Naspers, will invest over ₹955 crore in Navi, founded by former Flipkart CEO Sachin Bansal. Navi did not disclose the valuation, the exact stake or the intended use of the funds. Bansal said the partnership reflects a long‑standing relationship with Naspers and serves as a strong endorsement of Navi’s institution-building efforts.

Prosus India head Ashutosh Sharma said the investment is driven by Navi’s large user base, multiple business lines and technology‑first approach, adding that the company has performed well despite a challenging macro environment.

Financial performance and IPO outlook

Navi reported consolidated profitability in the fourth quarter of fiscal year 2026, though it did not release specific figures. Its NBFC arm, Navi Finserv, posted a 32% year‑on‑year rise in net profit to ₹292.2 crore and an 8% increase in operating revenue to ₹2,461 crore. Consolidated net profit fell 46% to ₹93.3 crore, while overall operating revenue grew 17% to ₹2,691.5 crore.

The investment comes as Navi prepares to revive its public listing plans. Reports indicate the firm may refile its draft IPO documents with SEBI by December, targeting a fresh issue of around ₹3,000 crore. Advisors for the proposed offering include JM Financial, Kotak Mahindra Capital, Goldman Sachs and JPMorgan.

Why it matters: The approval enables a major foreign investor to back an Indian fintech that is expanding digital payments and lending services, signaling confidence in the sector’s growth potential and setting the stage for a possible large‑scale IPO that could attract regional investors.