InCred Holdings is preparing for an IPO with a total issue size of $460-560 million. As part of the offer, the fintech firm plans to raise Rs 1,500 crore (approximately $172 million) through a new share issuance.
According to internal documents, the company's board will approve a resolution to issue equity shares worth up to Rs 1,500 crore in a new issuance.
Key Highlights
- InCred plans fresh issue of ₹1,500 crore in IPO; total IPO size pegged at $460-560 million.
- Company to raise through shares, including ₹300 crore via pre-IPO placement; DRHP filing expected soon.
The firm also intends to raise Rs 300 crore through a pre-IPO placement, which will be counted as part of the new issue. According to the documents, Incred Holdings is in the process of submitting a draft red herring prospectus (DRHP) to the Securities and Exchange Board of India. Following regulatory clearances, the company's shares will be listed on the BSE and NSE.
InCred, a tech-first non-banking financial company (NBFC) with a focus on consumer, SME, and educational lending, was founded by Bhupinder Singh. The group asserts that it serves retail and MSME borrowers throughout India by utilizing data science, proprietary risk analytics, and digital-first operations. InCred Finance, InCred Capital, and InCred Money are the three companies that make up the InCred Group.
Also Read: InCred Money Launches Digital Gold & Silver; Simplifying Your Savings
More than $370 million has been raised by InCred Finance so far, including $60 million in its Series D round, which also allowed it to join the unicorn club. In the meantime, a group of family offices led InCred Capital, which manages wealth and asset management, M&A advisory, capital markets, equity research, and broking, to raise $50 million.
According to Incred Finance, its revenue increased by 47% year over year to Rs 1,872 crore in FY25 from Rs 1,270 crore in FY24. Concurrently, the company's earnings increased by 18% to Rs 374 crore.
