InCred Holdings IPO
InCred Holdings IPO Details
-
Open Date
TBA
-
Close Date
TBA
- IPO Price Range
TBA
- IPO Size
₹ 1250 Cr
InCred Holdings IPO Timeline
Last Updated: 19 June 2026 2:36 PM by krishika_vyas
InCred Holdings Limited is the holding company of InCred Financial Services Limited (IFSL), a Reserve Bank of India-registered non-banking financial company. The company offers a diversified suite of loan products comprising Personal Loans, Student Loans, Secured Business Loans, Specialised MSME Loans and Lending to Financial Institutions. InCred Holdings also holds a SEBI-registered merchant banking licence and manages a SEBI-registered Alternative Investment Fund. CRISIL has recognised InCred Finance as India's fastest-growing diversified NBFC by profit after tax CAGR and the second fastest by assets under management CAGR between FY23 and FY25. As of December 31, 2025, the company operated 158 branches in 152 cities across 19 states and union territories, with an AUM of ₹14,447.86 crore.
Incorporated in: 2011
Chairman, Whole-time Director and CEO: Bhupinder Singh
Peers:
| Metric |
InCred Holdings Limited |
Bajaj Finance Limited |
HDB Financial Services Limited |
Aditya Birla Capital Limited |
|
Face Value |
10.00 |
2.00 |
10.00 |
10.00 |
|
Closing Price |
- |
950.20 |
665.30 |
345.85 |
|
Revenue from Operations |
1,873.62 |
69,683.51 |
16,300.28 |
40,589.98 |
|
EPS Basic |
5.81 |
26.89 |
27.40 |
12.80 |
|
EPS Diluted |
5.58 |
26.82 |
27.32 |
12.67 |
|
RONW (%) |
10.38 |
19.10 |
14.72 |
11.03 |
|
NAV |
58.74 |
159.37 |
198.80 |
124.08 |
|
P/E |
- |
35.43 |
24.35 |
27.30 |
InCred Holdings Objectives
1. Net proceeds from the Fresh Issue will be invested in wholly owned subsidiary InCred Financial
2. Services Limited to augment its capital base
3. This will support the capital base of IFSL for its lending business
4. The company will not receive any proceeds from the Offer For Sale
| Particulars (In ₹ Crores) | FY23 | FY24 | FY25 |
| Revenue | 880.71 | 1,296.13 | 1,893.77 |
| PAT | 109.06 | 309.04 | 373.15 |
| Particulars (In ₹ Crores) | FY23 | FY24 | FY25 |
| Total Assets | 2,547.80 | 3,386.77 | 3,803.27 |
| Share Capital | 595.24 | 641.82 | 647.52 |
| Total Liabilities | 3,864.37 | 5,017.15 | 8,358.51 |
| Cash Flows (₹ Crores) | FY23 | FY24 | FY25 |
| Net Cash Generated From / (used in) Operating Activities | (726.04) | (1,372.56) | (2,815.75) |
| Net Cash Generated From / (used in) Investing Activities | 393.58 | (539.74) | 23.14 |
| Net Cash Generated From / (used in) Financing Activities | 634.18 | 1,597.39 | 3,447.27 |
| Net Increase (Decrease) in Cash and Cash Equivalents | 301.72 | (314.91) | 654.66 |
Strengths
1. India's fastest-growing diversified NBFC by PAT CAGR between FY23 and FY25, as per CRISIL Report
2. Diversified loan portfolio spanning personal loans, student loans, secured business loans and MSME loans
3. Proprietary technology platform with embedded AI and machine learning capabilities for credit evaluation
4. Impairment on financial instruments, net of recoveries, stood at 1.74% of average AUM in FY25
Weaknesses
1. Consistent negative operating cash flows due to the NBFC lending model
2. High revenue concentration in single subsidiary IFSL, which contributed 99.85% of total revenue from operations for the nine months ended December 31, 2025
3. Gross NPA increased from 2.05% to 2.28% between December 2024 and December 2025
4. Limited geographic presence compared to large-scale established NBFCs
Opportunities
1. India's retail credit market is projected to grow at 14-16% CAGR, reaching ₹122 trillion by FY28, as per CRISIL Report
2. Education loan market was estimated at ₹2 trillion in FY25, with growth potential
3. Expanding distribution across states through new branch additions
4. Fee income from merchant banking and AIF management diversifies the revenue base
Threats
1. Regulatory changes by RBI may affect NBFC operations and capital requirements
2. Intense competition from banks, fintech lenders and established diversified NBFCs
3. Economic slowdown or interest rate volatility could impact portfolio quality
4. High funding dependence on external borrowings creates refinancing risk
1. India’s fastest-growing diversified NBFC by PAT CAGR between FY23 and FY25, as per CRISIL Report
2. Diversified loan portfolio across personal loans, student loans, secured business loans, specialised MSME loans and lending to financial institutions
3. AUM stood at ₹14,447.86 crore as of December 31, 2025
4. Fresh issue proceeds will be used to augment the capital base of InCred Financial Services Limited
India's retail credit market is undergoing expansion driven by rising incomes, financial inclusion initiatives and rapid digitisation of lending. The personal loan and education loan segments, which form the foundation of InCred Finance's lending book, are witnessing growth. India's retail credit market is projected to grow at a 14-16% CAGR between FY25 and FY28, reaching approximately ₹122 trillion by FY28, as per CRISIL Report. The education loan market, estimated at approximately ₹2 trillion in FY25, is expanding alongside the growing outbound Indian student population pursuing post-graduate education abroad. InCred Finance's technology-led, risk-first approach enables it to serve creditworthy but underserved salaried and MSME segments. Its 158 branches in 152 cities across 19 states and union territories support multi-channel distribution, positioning the company to participate in India's expanding retail lending market.
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FAQs
The official opening and closing dates for InCred Holdings IPO have not been announced yet. Keep checking this page for the most up-to-date information as soon as the schedule is confirmed.
InCred Holdings IPO comprises a Fresh Issue of ₹1,250 crore and an Offer For Sale of up to 9,90,20,833 Equity Shares of face value ₹10 each. The total IPO size will be confirmed upon pricing.
The price band for InCred Holdings IPO is yet to be finalised.
Once InCred Holdings IPO is officially open, follow the steps given below:
1. Login to your 5paisa account and select the issue in the current IPO section
2. Enter the number of lots and the price at which you wish to apply for InCred Holdings IPO
3. Enter your UPI ID and click on submit. Your bid will be placed with the exchange
4. You will receive a mandate notification to block funds in your UPI app
The official lot size and minimum investment are yet to be declared. Keep checking this page for updates once the price band and lot size are announced.
The allotment date has not been announced yet. This section will be updated as soon as the final schedule is made available.
The listing date for InCred Holdings IPO will be known after the issue closes and allotments are finalised.
IIFL Capital Services Limited is the book running lead managers for InCred Holdings IPO.
InCred Holdings IPO plans to utilise the raised capital from the Fresh Issue for:
1. Investment in wholly owned subsidiary InCred Financial Services Limited to augment its capital base
2. Strengthening Tier-I capital of IFSL to support lending operations
3. The company will not receive any proceeds from the Offer For Sale