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| Issue Size (Base) | ₹175.00 Cr |
| Issue Size (Shelf) | ₹350.00 Cr |
| Face Value | ₹1000 each NCD |
| Issue Price | ₹1000 per NCD |
| Market Lot | 1 NCD |
| Min Order Qty | 10 NCD |
| Min Order Amount | ₹10000 |
| Listing at | BSE, NSE |
| Tenor | 27 and 39 months |
| Credit Rating | CRISIL A+/Stable by CRISIL Ratings Limited |
| Series | Series I to IV |
| Payment Frequency | Annual and Quarterly |
| 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 | ||||
InCred Holdings Limited (erstwhile known as KKR Capital Markets India Limited), and Bhupinder Singh are the promoters of the company.
The company proposes to utilize the funds which are being raised through the Issue:
| # | Issue Objects |
|---|---|
| 1 | 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. |
| 2 | General Corporate Purposes - 25% of the amount raised and allotted in the Issue. |
| 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 |
The company has received rating of CRISIL A+/Stable by CRISIL Ratings Limited for the NCDs proposed to be issued pursuant to this Issue.
This Company was incorporated as Multiflow Financial Services Private Limited on February 3, 1995. The Company changed its name to KKR India Financial Services Private Limited and further the name was changed from KKR India Financial Services Limited to InCred Financial Services Limited. They are a non-deposit taking systemically important NBFC registered with the RBI. The Company caters to lower middle class to middle class Indian households for their personal finance needs like education loans, personal loans.
Correspondingly, it also offers secured and unsecured business loans to small businesses, secured loan to K12 Indian schools for their expansion plans, supply chain financing, lending to profitable financial Institutions and micro finance companies and escrow backed lending through its SME vertical.
Pre-demerger KKR was engaged in providing strucutred funding, promoter financing and mezzanine financing. To consolidate the non-banking financing business related to reail and SME lending and ancillary financing activites undertaken by Pre-demerger InCred, InCred Demerged Undertaking was merged with Pre-demerger KKR to achieve greater economies of scale, operational ratinalisation and organisational efficiency, wider market reach and customer base, pooling of knowledge and expertise, and to reduce redundant cost.
