InCred Holdings Limited has filed its Updated Draft Red Herring Prospectus-I (UDRHP-I) with the Securities and Exchange Board of India (SEBI) for its proposed initial public offering.
The company, which primarily operates through its subsidiary InCred Financial Services Limited (InCred Finance), said the IPO will comprise a fresh issue of equity shares aggregating up to ₹1,250 crore and an offer for sale of up to 99,020,833 equity shares by existing shareholders.
Promoted by Bhupinder Singh in 2017, InCred Finance is a retail-focused diversified NBFC offering personal loans, student loans, secured business loans, specialised MSME loans and loans to financial institutions.
According to CRISIL, the company was India’s fastest-growing diversified NBFC in terms of PAT CAGR and the second fastest in AUM CAGR between FY23 and FY25.
As of March 31, 2025, the company’s assets under management (AUM) stood at ₹12,585.07 crore, while profit after tax (PAT) was ₹373.15 crore. Between FY23 and FY25, AUM and PAT grew at a CAGR of 44.04 per cent and 84.97 per cent respectively.
The company plans to utilise the net proceeds primarily to invest in its wholly owned subsidiary InCred Finance to strengthen its capital base and support future lending growth.