Fintech firm InCred wants to raise ₹5,500cr via IPO
What's the story
InCred Holdings, the parent firm of non-banking financial company (NBFC) InCred Financial Services, has filed a Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI). The filing was made through a confidential route as part of its plan to raise funds through an initial public offering (IPO). The company is said to be eyeing an IPO worth between ₹3,000-5,500 crore.
IPO details
Upcoming IPO to include fresh issue and offer-for-sale
The upcoming IPO from InCred will include both a fresh issue and an offer-for-sale. If successful, this would mark another new-age fintech firm making its market debut after Groww, which launched its IPO earlier this month. However, it's important to note that the filing of the DRHP doesn't guarantee that the company will go ahead with the IPO.
Company profile
Financial performance of InCred Group
Founded in 2016 by Bhupinder Singh, the Mumbai-based InCred Group has three verticals. They are InCred Finance (a new-age lending-focused NBFC), InCred Capital (an institutional, asset, and wealth management platform), and InCred Money (a digital investment distribution platform). The company has a strong financial track record with a standalone profit of ₹372.2 crore and revenue of ₹1,872 crore for the fiscal year ending March 2025.