InCred Holdings Files Confidential DRHP With SEBI To Raise Funds Via IPO

Mumbai-based InCred Holdings Ltd, the parent company of InCred Financial Services, has filed confidential draft red herring prospectus with the Securities and Exchange Board of India (SEBI) and the stock exchanges

The company intends to list its equity shares, each bearing a face value of Rs 10, on the main boards of the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE). This move follows earlier approval sought by InCred from shareholder in September to raise Rs 1,500 crore in fresh capital through the IPO. In addition, InCred had also sought to raise up to Rs 300 crore via a pre-IPO placement.

Citing media reports moneycontrol said that the company may be planning for Rs 4,000-5,000 crore worth IPO.

The company’s registered office is located at The Capital, Bandra Kurla Complex, Mumbai. Nikita Deepak Shetty, Company Secretary and Compliance Officer, is the designated contact for regulatory communications.

Mumbai-based InCred Group, established in 2016 by Bhupinder Singh, is a diversified financial services firm backed by prominent global investors including Abu Dhabi Investment Authority, Teacher Retirement System of Texas (TRS), KKR, Oaks, Elevar Equity, and Moore Venture Partners. The group operates through three distinct business segments: InCred Finance, a next-generation non-banking financial company (NBFC) focused on lending; InCred Capital, which offers institutional services along with asset and wealth management; and InCred Money, a digital platform for investment distribution, moneycontrol report said.