As per the sources, InCred Holdings Limited, the parent company of NBFC arm InCred Financial Services, has reportedly filed an updated draft red herring prospectus (DRHP) with SEBI.
According to the UDRHP, the firm is looking to raise ₹1,250 crore via a fresh issue and up to 9.90 crore equity shares via an Offer for Sale component.
In the OFS component, major promoters like KKR India Financial Investments Pte. Ltd, MNI Ventures, MEMG Family Office LLP, V’Ocean Investments Ltd, Moore Strategic Ventures, LLC, Christopher Anthony Mathia, Innovative Quest LLP, and others will be selling a portion of their existing shareholding.
The firm is also planning to raise funds via a pre-IPO placement, which will be less than 20% of the fresh issue.
Objects to the issue
- Investment in wholly-owned subsidiary, InCred Finance
- Strengthening the capital base
- Supporting lending growth
- Improving CRAR (Capital Adequacy Ratio)
While the book-running lead manages the issue, IIFL Capital Services, InCred Capital, Kotak Mahindra Capital, Nomura, and UBS.
About InCred Holdings
Since its incorporation on 3rd January, 2011, InCred Holdings has been engaged as a diversified financial services provider. It is an NBFC company that offers business loans, student loans, business loans, secured MSME loans, and provides lending to financial institutions.
InCred is registered as a merchant banker with SEBI and has been involved in various businesses like syndication for third parties, debt arrangement, debt advisory, corporate consultancy, fund raising through debt, and referral services.
Financially, InCred Holdings has generated a total income of ₹1,196.88 crore, with achieving ₹398.99 crore in profit before Tax. For more such updates and queries, please follow IPO Watch.
