Daijiworld Media Network - Mumbai

Mumbai, Nov 9: Mumbai-based InCred Holdings Ltd, the parent firm of InCred Financial Services, has filed a confidential draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) and leading stock exchanges, paving the way for its upcoming initial public offering (IPO).

The company plans to list its equity shares (face value of Rs 10 each) on the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE). This follows shareholders’ approval in September to raise Rs 1,500 crore in fresh capital through the IPO, alongside a proposed Rs 300 crore pre-IPO placement.

According to a report by Moneycontrol, the IPO size could range between Rs 4,000 and Rs 5,000 crore.

Founded in 2016 by Bhupinder Singh, the InCred Group is a diversified financial services platform backed by global investors such as the Abu Dhabi Investment Authority, Teacher Retirement System of Texas (TRS), KKR, Oaks, Elevar Equity, and Moore Venture Partners.

The group operates across three verticals — InCred Finance, a next-generation NBFC focusing on lending; InCred Capital, offering institutional, asset and wealth management services; and InCred Money, a digital platform for investment distribution.

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