InCred Holdings Gears Up for IPO: Confidential Draft Papers Filed with SEBI
InCred Holdings Ltd has filed a confidential draft red herring prospectus (DRHP) with SEBI, signaling its intent to go public. The company plans to raise up to ₹1,500 crore in fresh capital and potentially ₹300 crore through a pre-IPO placement. The total IPO size is estimated to be between ₹4,000-5,000 crore. InCred Group, founded in 2016, operates in NBFC lending, institutional services, asset and wealth management, and digital investment distribution. The company is backed by prominent investors including Abu Dhabi Investment Authority and KKR.
*this image is generated using AI for illustrative purposes only.
Mumbai-based financial services group InCred Holdings Ltd has taken a significant step towards going public by filing confidential draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (SEBI). This move signals the company's intent to raise funds through an initial public offering (IPO) on the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE) main boards.
IPO Details
InCred Holdings plans to list equity shares with a face value of ₹10 each. While the exact size of the IPO is yet to be officially disclosed, here's what we know so far:
| Aspect | Details |
|---|---|
| Fresh Capital | Up to ₹1,500.00 crore |
| Pre-IPO Placement | Up to ₹300.00 crore |
| Potential IPO Size | ₹4,000.00-5,000.00 crore (as per media reports) |
The company had previously sought shareholder approval for raising fresh capital and conducting a pre-IPO placement, indicating a well-planned approach to its public offering.
About InCred Group
Founded in 2016 by Bhupinder Singh, InCred Group has established itself as a diversified financial services entity. The group's operations are structured across three main segments:
- InCred Finance: Focuses on NBFC lending
- InCred Capital: Provides institutional services, asset and wealth management
- InCred Money: Operates as a digital investment distribution platform
Investor Backing
InCred Group has garnered support from several prominent investors, including:
- Abu Dhabi Investment Authority
- Teacher Retirement System of Texas
- KKR
- Oaks
- Elevar Equity
- Moore Venture Partners
The backing of these established investors suggests a strong vote of confidence in InCred's business model and growth prospects.
Market Implications
The filing of confidential draft papers with SEBI marks a crucial phase in InCred Holdings' journey towards becoming a publicly traded company. As the IPO process unfolds, it will be interesting to observe how the market responds to this new offering in the financial services sector.
Investors and market watchers will likely keep a close eye on the official DRHP when it becomes publicly available, as it will provide more detailed insights into InCred's financials, business strategy, and the specific terms of the IPO.
The success of InCred's IPO could potentially pave the way for other fintech and financial services companies looking to tap into the public markets for growth capital.
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