Incorporated in 1995, InCred Financial Services Limited operates within the realm of financial services. The company holds registration with SEBI as a significant non-deposit-taking NBFC (Non-Banking Financial Company).
Catering to the financial needs of lower-middle-class to middle-class Indian households, InCred Financial Services provides essential personal finance solutions in the form of education and personal loans. Additionally, the company extends secured and unsecured business loans. Its clientele encompasses a diverse array, ranging from small businesses and profit-oriented financial institutions to K12 Indian schools seeking expansion capital, supply chain financing, and microfinance companies. The company also facilitates escrow-backed lending through its dedicated SME vertical.
Notably, in 2022, a merger transpired, leading to the transformation of the former KKR India Financial Services Limited into its current iteration, InCred Financial Services Limited.
The product portfolio of InCred Financial Services Limited can be neatly categorized as follows:
- Consumer Loans
- Education Loans
- MSME Loans
Furthermore, the company delineates its offerings into specific segments, including Personal Loans, Student Loans, Secured School Financing, Anchor & Escrow Backed Business Loans, Structured Lending, and Lending to Financial Institutions. This comprehensive suite of products and services reflects InCred Financial Services’ commitment to addressing a wide spectrum of financial needs.
Incred Financial Services NCD Tranche I Jan 2023 Detail #
| Issue Open | Jan 9, 2023 – Jan 27, 2023 |
| Security Name | Incred Financial Services Limited |
| Security Type | Secured, Redeemable, Non-Convertible Debentures (Secured NCDs) |
| Issue Size (Base) | Rs 175.00 Crores |
| Issue Size (Shelf) | Rs 350.00 Crores |
| Issue Price | Rs 1000 per NCD |
| Face Value | Rs 1000 each NCD |
| Minimum Lot size | 10 NCD |
| Market Lot | 1 NCD |
| Listing At | BSE, NSE |
| Credit Rating | CRISIL A+/Stable by CRISIL Ratings Limited |
| Tenor | 27 and 39 months |
| Series | Series I to IV |
| Payment Frequency | Annual and Quarterly |
| Basis of Allotment | First Come First Serve Basis |
| Debenture Trustee/s | Catalyst Trusteeship Limited |
Incred Financial Services Limited NCD Coupon Rates
| # | Series 1 | Series 2 | Series 3 | Series 4 |
|---|---|---|---|---|
| Frequency of Interest Payment | Quarterly | Annual | Quarterly | Annual |
| Nature | Secured | Secured | Secured | Secured |
| Tenor | 27 months | 27 months | 39 months | 39 months |
| Coupon Rate (Retail) | 9.45% | 9.80% | 9.65% | 10.00% |
| Effective Yield (% per Annum) | 9.78% | 9.82% | 10.00% | 10.02% |
| Amount on Maturity | Rs 1,000.00 | Rs 1,000.00 | Rs 1,000.00 | Rs 1,000.00 |
NCD Rating #
The company has received rating of CRISIL A+/Stable by CRISIL Ratings Limited for the NCDs proposed to be issued pursuant to this Issue.
Company Promoters #
InCred Holdings Limited (erstwhile known as KKR Capital Markets India Limited), and Bhupinder Singh are the promoters of the company.
Company Financials #
| Period Ended | Total Assets | Total Revenue | Profit After Tax | Net Worth |
|---|---|---|---|---|
| 31-Mar-20 | 2232.1 | 332.67 | 5.16 | 1040.5 |
| 31-Mar-21 | 2804.53 | 392.48 | 2.17 | 1054.01 |
| 31-Mar-22 | 4034.65 | 524.27 | 30.83 | 1115.19 |
| 30-Sep-22 | 6194.28 | 398.12 | 46.76 | 2391.19 |
| Amount in ₹ Crore | ||||
Objects of the Issue #
The company proposes to utilize the funds which are being raised through the Issue:
- For the purpose of onward lending, financing, and for repayment of interest and principal of existing borrowings of the Company – 75% of the amount raised and allotted in the Issue.
- General Corporate Purposes – 25% of the amount raised and allotted in the Issue.
Incred Financial Services NCD Tranche I Jan 2023 Prospectus #
Incred Financial Services NCD Tranche I Jan 2023 Subscription Status #
The Incred Financial Services NCD Tranche I Jan 2023 was subscribed 1.51 times on Jan 27, 2023 5:00:00 PM. The NCD subscribed 1.72 times in Retail, 1.83 times in HNI, 1.93 times in Non-Institutional, and 0.29 times in the Institutional category.
| Category ? | Subscription (times) |
|---|---|
| Retail | 1.72x |
| HNI | 1.83x |
| Non-Institutional | 1.93x |
| Institutional | 0.29x |
| Total | 1.51x |
Check Day by Day Bidding Details
Company Contact Information #
Unit No. 1203, 12th Floor, B Wing, The Capital,
Plot No. C-70, G Block, Bandra Kurla Complex,
Bandra (East), Mumbai – 400 051Phone: +91 22 6844 6100
Email: incred.compliance@incred.com
Website: http://www.incred.com/
Incred Financial Services NCD Tranche I Jan 2023 Registrar #
Link Intime India Private Ltd
Link Intime India Private Ltd
C 101, 247 Park, L.B.S.Marg,
Vikhroli (West), Mumbai – 400083
Phone: +91-22-4918 6270
Email: incred.ncd2@linkintime.co.in
Website: https://linkintime.co.in/mipo/ipoallotment.html
