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| Issue Size (Base) | ₹150.00 Cr |
| Issue Size (Shelf) | ₹300.00 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 |
| Tenor | 18, 24 and 36 months |
| Credit Rating | CRISIL A+/Stable by CRISIL Ratings Limited. |
| Series | Series I to V |
| Payment Frequency | Monthly, Quarterly and Annually |
Incred Financial Services Limited's revenue increased by 67.37% and profit after tax (PAT) rose by 234.79% between the financial year ending with March 31, 2023 and March 31, 2022.
| Period Ended | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
| Assets | 6,608.39 | 4,034.65 | 2,804.53 |
| Revenue | 877.45 | 524.27 | 392.48 |
| Profit After Tax | 120.92 | 36.12 | 10.23 |
| Net Worth | |||
| Reserves and Surplus | |||
| Total Borrowing | |||
| 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 | Series 5 | |
|---|---|---|---|---|---|
| Frequency of Interest Payment | Monthly | Quarterly | Monthly | Annual | Monthly |
| Nature | Secured | Secured | Secured | Secured | Secured |
| Tenor | 18 Months | 24 Months | 24 Months | 36 Months | 36 Months |
| Coupon (% per Annum) | 9.48% | 9.55% | 9.66% | 10.30% | 9.84% |
| Effective Yield (% per Annum) | 9.88% | 9.88% | 10.08% | 10.28% | 10.29% |
| Amount on Maturity (In Rs.) | Rs 1,000.00 | Rs 1,000.00 | Rs 1,000.00 | Rs 1,000.00 | Rs 1,000.00 |
The NCDs proposed to be issued have been rated 'CRISIL A+/Stable' by CRISIL Ratings Limited.
Incred Financial Services Limited was incorporated in March 1997. It is a non-deposit taking systemic NBFC registered with the RBI. The company provides personal finance such as education and personal loans to Indian households from middle class to middle class. Accordingly, it also offers secured and unsecured business loans to small businesses, secured loans to Indian K12 schools for their expansion plans, supply chain financing, loans to profitable financial institutions and microfinance companies, and trust-backed loans through its SME vertical.
Prior to the split, KKR offered structured finance, promoter finance and mezzanine finance. To consolidate the non-bank financing business related to email and SME lending and complementary financing activities operated by InCred prior to the Demerger, the unbundled InCred was combined with KKR prior to the Demerger to achieve greater economies of scale, operational rationalisation and organisational efficiencies, a broader market and customer base, the pooling of knowledge and expertise, and the reduction of redundant costs.
