Upcoming IPO: InCred's IPO may come soon, the issue size will be so many thousand crores!
InCred has filed an updated DRHP for its IPO with SEBI. The company's IPO is expected to hit the market soon. Let's explore the issue size and other details, including how many crore rupees it will issue.
India's rapidly growing fintech and NBFC sector is set to witness another major IPO. InCred has filed updated draft papers with SEBI for its proposed IPO. The company will issue new shares, while existing investors will also sell their stakes through an OFS.
The company will primarily use the funds to expand its lending business and strengthen its capital base. InCred's focus is on technology-driven lending models and risk management. Let's understand this in detail.
According to the draft papers, the company will issue fresh equity shares worth ₹1,250 crore. Additionally, approximately 99 million equity shares will be sold through an offer-for-sale (OFS). Investors selling stake through the OFS include KKR India Financial Investments, VOcean Investments, and several other shareholders.
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The company stated that the proceeds from the new issue will primarily be used to strengthen the capital base of its subsidiary, InCred Financial Services.
This will help the company expand its lending business and disburse more loans in the future. The company stated that the proceeds will be used to improve Tier-I capital and expand its lending activities.
Who will be the fund managers?
Several major investment banks have been tasked with managing this IPO. These include IIFL Capital Services, InCred Capital Wealth Portfolio Managers, Kotak Mahindra Capital, Nomura Financial Advisory, and UBS Securities India.
InCred Holdings primarily operates through its NBFC unit, InCred Financial Services. It is a retail-focused middle-tier NBFC registered with the Reserve Bank of India (RBI). The company was founded in 2017 by Bhupinder Singh.
company business
The company has diversified its business across multiple loan categories. Currently, InCred's largest business comes from personal loans,
accounting for over 55 percent of its total assets under management (AUM). Student loans are the second largest segment, accounting for over 22 percent.
InCred also provides business loans to small businesses. It also offers services such as loan-against-property, school financing, and financing solutions for financial institutions. As of December 2025, the company's total AUM had reached approximately ₹14,448 crore.