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InCred Prepares to Submit Draft Red Herring Prospectus for an Initial Public Offering worth INR 55 billion within aapproximate 21 days.

Mumbai-based company's IPO could potentially raise between Rs 5,000 and Rs 5,500 crores, giving it a market value of roughly Rs 25,000 crores.

, and Administrator

2025 August 23 . 10:24 PM

2 min read

InCred intends to submit a Draft Red Herring Prospectus for a proposed IPO worth INR 5,500 crores... — InCred intends to submit a Draft Red Herring Prospectus for a proposed IPO worth INR 5,500 crores within approximately three weeks.

InCred Prepares to Submit Draft Red Herring Prospectus for an Initial Public Offering worth INR 55 billion within aapproximate 21 days.

InCred's Upcoming IPO Valued at Nearly Rs 25,000 Crore

Mumbai-based fintech and non-banking financial company (NBFC) InCred is set to file a draft prospectus for an initial public offering (IPO) within the next three weeks, promising to raise substantial capital and reflecting the company's rapid growth in the competitive Indian lending and fintech space.

Founded in 2016, InCred offers a diversified presence in lending, wealth management, investment banking, and digital financial services, catering to retail and institutional clients. The company is backed by KKR and is led by CEO Bhupinder Singh, who oversees a workforce of about 3,000 employees operating through 150 branches.

In FY25, InCred reported a profit after tax (PAT) of Rs 316 crore and a loan book exceeding Rs 10,000 crore. The company's strategic moves include acquisitions such as South Asian Stocks for entering retail broking and the gold-loan portfolio of TruCap Finance.

The IPO is underwritten by a group of banks including Nomura, UBS, and three domestic investment banks. The IPO is expected to be sized between Rs 5,000 crore and Rs 5,500 crore, valuing the company at nearly Rs 25,000 crore.

Last month, the Kamath brothers of Zerodha invested Rs 250 crore in InCred, and in 2023, RP Group chairman Ravi Pillai invested $5.4 million, Ram Nayak of Deutsche Bank invested $1.2 million, and Ranjan Pai of MEMG invested $9 million. InCred also acquired the gold-loan portfolio of TruCap Finance last year.

InCred's services extend beyond lending, with offerings in retail broking and gold loans. The company uses advanced technology and data analytics for personalised lending solutions. This IPO is among the significant fintech listings planned amid a strong Indian IPO market environment in 2025.

[1] Mint, "InCred to file for IPO in next three weeks, to raise up to Rs 5,500 crore", August 10, 2025. [2] Economic Times, "InCred IPO: All you need to know about the upcoming Rs 5,000-5,500 crore listing", August 11, 2025. [3] Livemint, "InCred IPO: Fintech firm to file draft prospectus for Rs 5,000-5,500 crore IPO", August 12, 2025. [4] Business Standard, "InCred IPO: Fintech firm to raise up to Rs 5,500 crore", August 13, 2025.

InCred, a fintech and non-banking financial company (NBFC), is planning to raise substantial capital through an initial public offering (IPO) within the next three weeks, with a potential valuation of nearly Rs 25,000 crore.
The company's diversified business includes lending, wealth management, investment banking, and digital financial services, catering to both retail and institutional clients.
Future investments in technology and data analytics will likely be utilized for personalized lending solutions and expanding into areas such as retail broking, as demonstrated by the acquisition of South Asian Stocks.
Strategic moves, like the acquisition of TruCap Finance's gold-loan portfolio, showcase InCred's growth and ambition in the competitive Indian lending and fintech space.
With advanced technology and an increasing presence in the loan and fintech markets, InCred's IPO is anticipated to be among significant fintech listings in the strong Indian IPO market environment of 2025.