InCred to Raise Rs 1500 Cr via Fresh Issue in IPO; Reports 47% Revenue Growth in FY25

InCred Holdings is gearing up for a major IPO with a total issue size estimated between $460 million and $560 million, with a fresh share issuance targeted at raising Rs 1,500 crore (approximately $172 million). According to internal documents reviewed by Entrackr, the company’s board is poised to approve the resolution for this fresh issuance. Additionally, InCred plans to raise Rs 300 crore via pre-IPO placements, which will be accounted for as part of this fresh issue. The company is in the process of submitting its Draft Red Herring Prospectus (DRHP) to the Securities and Exchange Board of India (SEBI) with plans to list on the BSE and NSE post regulatory approval. Founded by Bhupinder Singh, InCred operates as a tech-first non-banking financial company (NBFC) specializing in consumer lending, SME financing, and education loans. Leveraging proprietary risk analytics, data science, and digital operations, InCred serves a diverse portfolio of retail and MSME borrowers across India. The corporate group comprises three entities acting in finance, capital markets, wealth management, and broking. To date, InCred Finance has raised over $370 million, including a $60 million Series D round that entered the unicorn club. The company recorded a 47% year-over-year revenue increase in FY25, reaching Rs 1,872 crore up from Rs 1,270 crore in FY24. Profits also grew 18% to Rs 374 crore in the same period. This robust financial performance positions InCred well for its expected capital market debut, which aims to further expand its lending verticals and investments in technology infrastructure. This strategic capital raise is a significant milestone in India’s fintech lending space, symbolizing investor confidence amid burgeoning demand for inclusive credit services targeting underserved consumer and SME segments