InCred's NBFC arm files confidential DRHP with Sebi
10 Nov 2025, 01:44 PMInCred's NBFC arm plans to raise approximately Rs 4,000-5,500 crore to strengthen its capital base.
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InCred Holdings Limited, which owns NBFC InCred Financial Services, has submitted its initial public offering documents to India's market regulator SEBI through a confidential pre-filing process.
In a public announcement, the company said it has submitted "the pre-filed draft red herring prospectus with Sebi and the stock exchanges in relation to the proposed initial public offering (IPO) of its equity shares on the main board."
The financial services firm, as per media reports, plans to raise approximately Rs 4,000-5,500 crore by selling both new shares and allowing current investors to exit partially.
SEBI's confidential submission mechanism, launched a year ago, enables firms to file IPO paperwork without public disclosure initially, offering them room to modify terms or postpone launch depending on market conditions.
The capital raised will primarily strengthen the financial muscle of its lending business and support growth initiatives across different service lines. The NBFC focusses on consumer, SME, and education lending.
The Bhupinder Singh-founded firm InCred Group houses three divisions, InCred Finance for lending, InCred Capital for investment services, and InCred Money.
Since its inception in 2016, InCred Financial Services (InCred Finance) has disbursed loans worth over Rs 25,000 crore, serving more than 4 lakh customers through a network of over 140 branches and a workforce of more than 2,600 employees.
The NBFC’s AUM (assets under management) stood at Rs 12,585 crore in FY25.
On the financial front, InCred Finance saw its total income surge 50% annually to Rs 1,255 crore in the fiscal year ending March 2025, up from Rs 838 crore the previous year, while profits climbed 18% to Rs 374 crore in FY25.
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