Key Highlights
InCred Money to acquire discount broker Stocko in ₹300 cr cash deal, entering retail broking sector.
Stocko rebranded as InCred Stocko, platform and team retained, pending regulatory approval.
InCred Money, a lending and wealth service provider, plans to acquire trading platform Stocko for Rs 300 crore ($35 million).
According to the report, Stocko will be renamed InCred Stocko once the process is completed. However, regulators have not yet approved the deal.
Stocko trades stocks, options, commodities, and currencies, with a daily turnover of Rs 1 lakh crore. The company's team, led by Shrey Jain, will remain intact following the merger. InCred intends to integrate Stocko with its existing services.
The transaction marks InCred's entry into the retail brokerage space.
InCred Money is part of the InCred Group, which also provides lending and wealth management services. Incred, led by Bhupinder Singh, achieved unicorn status after raising $60 million in a Series D round from new and existing investors in December 2023. Entrackr was the first to report on this development.
Also Read: Gaurav Maheshwari named as the CFO of InCred Finance
A report claims that InCred intends to use its IPO to raise between Rs 4,000 and Rs 5,000 crore ($471–588 million) at a valuation of between Rs 15,000 and Rs 22,500 crore, or Rs 225 and 325 per share. The company intends to go public in the fourth quarter of 2025.
The InCred Group comprises three companies: InCred Finance, InCred Capital, and InCred Money. The group generated Rs 1,267 crore in FY24, a 48% increase in operating revenue. Additionally, it declared a Rs 316 crore profit after tax (PAT) for the previous fiscal year.
