Overview
- InCred Holdings filed an updated draft prospectus with SEBI, India’s markets regulator, for an IPO that includes a Rs 1,250 crore fresh issue and an offer for sale of 99,020,833 shares.
- The company plans to channel the new equity into InCred Financial Services to lift Tier-I capital and keep capital buffers above regulatory needs.
- Existing shareholders selling in the offer for sale include KKR India Financial Investments, MNI Ventures, MEMG Family Office and V’Ocean Investments.
- Filed financials show assets under management of Rs 14,447.86 crore, profit after tax of Rs 290.14 crore, portfolio yields of 18.39% and an average borrowing cost of 10.05% for the nine months ended December 31, 2025.
- The lending book is concentrated in personal loans at 55.56% of assets and student loans at 22.15%, and the NBFC reports a 24.97% capital adequacy ratio with AA-/Stable ratings from CRISIL and ICRA.