Incorporated in 1995, InCred Financial Services Limited is engaged in the financial services business. The company is registered with SEBI as a non-deposit-taking systemically important NBFC (Non-Banking Financial Company).
The company strives to offer its services to lower middle-class to middle-class Indian households and resolve their need for personal finance in the form of education and personal loans. Alongside, InCred Financial Services also offers secured and unsecured business loans. Their customers include small businesses, secured loans to K12 Indian schools for their expansion plans, supply chain financing, lending to profitable financial Institutions and microfinance companies, and escrow-backed lending through its SME vertical.
In 2022, the earlier company known as KKR India Financial Services Limited was merged and emerged as InCred Financial Services Limited. This was done to achieve greater economies of scale, operational ratinalisation, and organizational efficiency, reach a wider market and customer base, and pooling of knowledge and expertise.
The products of InCred Financial Services Limited can be categorized as:
- Consumer Loans
- Education Loans
- MSME Loans
The company further divides the products and services as - Personal Loans, Student Loans, Secured School Financing, Anchor & Escrow Backed Business Loans, Structured Lending, and Lending to FIs.
2. Objective of the Issue
The company proposes to utilize the funds which are being raised through the Issue
(a)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.
(b)General Corporate Purposes - 25% of the amount raised and allotted in the Issue.
3. Company Promoters
InCred Holdings Limited (erstwhile known as KKR Capital Markets India Limited), and Bhupinder Singh are the promoters of the company.
The company has received rating of CRISIL A+/Stable by CRISIL Ratings Limited for the NCDs proposed to be issued pursuant to this Issue.
5. Incred Financial Services NCD January 2023 Registrar
Link Intime India Private Ltd
C 101, 247 Park, L.B.S.Marg
Vikhroli (West), Mumbai - 400083
Phone: +91-22-4918 6270