Incred Financial Services NCD

Incred Financial Services NCD opens for subscription from 25 October 2023. The company aims for a base issue size of ₹150 Crores.

About the company

Incorporated in 1995, InCred Financial Services is a non-deposit-taking systemically important NBFC registered with the RBI. It caters to lower-middle-class to middle-class Indian households for their personal finance needs like education loans and personal loans. Correspondingly, it also offers secured and unsecured business loans to 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.

The company was engaged in providing structured funding, promoter financing, and mezzanine financing. To consolidate the non-banking financing business related to retail and SME lending and ancillary financing activities undertaken by pre-demerger InCred, InCred Demerged Undertaking was merged with Pre-demerger KKR to achieve greater economies of scale, operational rationalization, and organizational efficiency, wider market reach and customer base, pooling of knowledge and expertise, and to reduce redundant cost.

The company’s total borrowings on a standalone basis, as of 6 October 2023 amounted to INR 4,480.98 crore. It relies on long-term, medium-term borrowings and short-term borrowings from various sources. The company takes term loans, issue non-convertible debentures, market-linked debentures, and commercial papers, and accepts inter-corporate deposits. It has a diversified lender base comprising of public sector banks, private banks, financial institutions, development financial institutions, small finance banks, and others.

As of 30 June 2023, and 31 March 2023, its AUM was INR 64,83.50 crore, and INR 6,062.44 crore, and catered to 4,18,704, and 3,76,879 customers, respectively. As of 30 June 2023, 1,281 permanent and 125 contract employees.

Objectives of the Issue

  • 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.
  • General Corporate Purposes – 25% of the amount raised and allotted in the Issue.

Incred Financial Services NCD Details


Issue OpenOctober 25, 2023 – November 7, 2023
Security NameIncred Financial Services Limited
Security TypeSecured, Redeemable, Non-Convertible Debentures (Secured NCDs)
Issue Size (Base)₹150 Crores
Issue Size (Shelf)₹300 Crores
Issue Price₹1000 per NCD
Face Value₹1000 each NCD
Minimum Lot size10 NCD
Market Lot1 NCD
Listing AtBSE
Credit RatingCRISIL A+/Stable by CRISIL Ratings Limited.
Tenor18, 24 and 36 months
SeriesSeries I to V
Payment FrequencyMonthly, Quarterly and Annually
Basis of AllotmentFirst Come First Serve Basis
Debenture Trustee/sCatalyst Trusteeship Limited

Incred Financial Services NCD Options and Coupon Rates

OptionTenureInterest PaymentCoupon RateEffective YieldMaturity Amount
Series 118 monthsMonthly9.48%9.88%INR 1,000
Series 224 monthsQuarterly9.55%9.88%INR 1,000
Series 324 monthsMonthly9.66%10.08%INR 1,000
Series 436 monthsAnnual10.30%10.28%INR 1,000
Series 536 monthsMonthly9.84%10.29%INR 1,000

Incred Financial Services NCD Rating

The NCDs proposed to be issued have been rated ‘CRISIL A+/Stable’ by CRISIL Ratings Limited.

Incred Financial Services Company Financials

Period Ended31 Mar 202331 Mar 202231 Mar 2021
Profit After Tax120.9236.1210.23
(Amount in ₹ Crore)

Incred Financial Services NCD Allocation Ratio

Category NCD’s Allocated

Incred Financial Services Company Promoters

  • Incred Holdings Limited
  • Bhupinder Singh

Incred Financial Services NCD Lead Manager

7th Floor, Cnergy, Appasaheb Marathe Marg,
Prabhadevi Mumbai – 400 025
Phone: +91 22 6630 3030

Incred Financial Services NCD Registrar

C-101, 1st Floor, 247 Park
L.B.S. Marg, Vikhroli West
Mumbai – 400 083, Maharashtra
Phone: +91 810 811 4949

Incred Financial Services Contact Details

Unit No. 1203, 12th Floor,
B Wing, The Capital, Plot No. C-70,
G Block, Bandra Kurla Complex, Bandra (East),
Mumbai, Maharashtra – 400 051
Phone: +91 22 6844 6100

Final Thoughts

Non-convertible debentures (NCDs) are a better investment option for those who are looking for a diversified portfolio. investing in Incred Financial Services NCD is purely your personal choice. make a good study and analysis before you make the investment.

Happy Investing

Leave a Comment

Your email address will not be published. Required fields are marked *