KKR likely merger of NBFC business with InCred. Global private equity firm KKR is in discussions to merge its Non-Banking Finance Company (NBFC) with Mumbai based InCred.
KKR and InCred are in exclusive discussions for the next six-eight weeks, according to a report by The Times of India.
If InCred merges with KKR India Financial Services. Also it will create an NBFC with a loan book of over Rs 6,000 crore, the report said.
“The deal will give InCred exposure to a corporate lending portfolio. Which its team has had experience in managing besides backing of large investors as well. There is no capital infusion needed right now as both companies have low gearing ratios” a source told the publication.
KKR with its backers, which include Abu Dhabi Investment Authority (ADIA) and Texas Teacher Retirement System, will own a third (33%) of the merged entity and be the largest shareholders, the report said.
