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Incorporated in 1991, InCred Financial Services is a non-deposit-taking systemically important NBFC registered with the RBI. The company is primarily engaged in the business of providing personal loans, education loans, SME loans, and in providing ancillary services related to the said business activities. The company's business portfolio is divided into (i) Personal Loans, (ii) Education Loans, (iii) SME Business Loans, and (iv) Digital MSME Loans.
The company uses technology and data science to make lending quick, simple, and hassle-free. As of March 31, 2021, the company's loan portfolio was ₹ 2,633.66 Cr and it catered to 3,40,264 customers. Of this loan portfolio, approx. 50% is in form of secured lending. As of September 30, 2021, the company has 676 permanent employees and 41 employees on a contract basis.
| Issue Open | January 24, 2022 - February 14, 2022 |
| Security Name | InCred Financial Services Limited |
| Security Type | Secured, Redeemable, Non-Convertible Debentures (Secured NCDs) |
| Issue Size (Base) | Rs 125.00 Crores |
| Issue Size (Shelf) | Rs 25.00 Crores |
| Issue Price | Rs 1000 per NCD |
| Face Value | Rs 1000 each NCD |
| Minimum Lot size | 10 NCD |
| Market Lot | 1 NCD |
| Listing At | BSE, NSE |
| Credit Rating | CRISIL A |
| Tenor | 12 months and 1 day/ 24 months |
| Series | Series I to Series III |
| Payment Frequency | Annual and Cumulative |
| Basis of Allotment | First Come First Serve Basis |
Category  |
NCD's Allocated |
|---|---|
| Institutional | 5% |
| Non-Institutional | 20% |
| HNI | 5% |
| Retail | 70% |
| Category |
NCD's Reserved |
|---|---|
| Institutional | 62,500 |
| Non-Institutional | 250,000 |
| HNI | 62,500 |
| Retail | 875,000 |
| Total NCD's | 1,250,000 |
| Options | Series 1 | Series II | Series III | |||||||
|---|---|---|---|---|---|---|---|---|---|---|
| Frequency of Interest Payment | Cumulative | Annually | Annually | |||||||
| Minimum Application | Rs 10,000 (10 NCDs)across all Series | |||||||||
| Face Value/ Issue Price of NCDs (Rs/ NCD) | Rs 1000 | |||||||||
| In Multiples of thereafter (Rs) | Rs 1000 (1 NCD) | |||||||||
| Tenor | 12 months and 1 day | 24 Months | 24 Months | |||||||
| Coupon Rate % Per Annum for NCD Holders in Category I, II, III & IV | NA | 9.25% per annum compounded monthly payable annually | 9.13% per annum compounded monthly payable annually | |||||||
| Effective Yield (per annum) for NCD Holders in Category I, II, III & IV | 9.25% | 9.65% | 9.52% | |||||||
| Mode of Interest Payment | Through various modes available | |||||||||
| Amount (Rs / NCD) on Maturity for NCD Holders in Category I, II, III & IV | 1,092.75 | 1000 | 1000 | |||||||
| Maturity / Redemption Date (Months from the Deemed Date of Allotment) | 12 months and 1 day | 24 months | 50% of the face value of NCD will be redeemed on the date occurring on expiry of 12 months from the Deemed Date of Allotment and remaining 50% will be redeemed on the date occurring on expiry of 24 months from the Deemed Date of Allotment | |||||||
| Put and Call Option | NA | |||||||||
CRISIL Ratings has assigned "CRISIL A" rating to the Debt instrument and placed the rating under "Rating Watch with Positive Implications". Instruments with this rating are considered to have adequate degree of safety regarding timely servicing of financial obligations.
Mr. Bhupinder Singh and Bee Finance Limited, Mauritius; are the company promoters.
| Particulars | For the year/period ended (Rs in Millions) | ||||
|---|---|---|---|---|---|
| 31-Mar-21 | 31-Mar-20 | 31-Mar-19 | |||
| Total Assets | 28,045.32 | 22,320.99 | 19,184.47 | ||
| Total Revenue | 3,924.76 | 3,326.66 | 3,269.73 | ||
| Profit After Tax | 21.70 | 51.63 | 277.20 | ||
The company proposes to utilise the funds which are being raised through the Issue
The InCred Financial Services NCD January 2022 was subscribed 1.05 times on February 14, 2022 5:00:00 PM. The NCD subscribed 0.78 times in Retail, 0.95 times in HNI, 1.19 times in Non-Institutional, and 4.36 times in the Institutional category.
| Category ? | Subscription (times) |
|---|---|
| Retail | 0.78x |
| HNI | 0.95x |
| Non-Institutional | 1.19x |
| Institutional | 4.36x |
| Total | 1.05x |
16 3.8 Rating:  Vote Here ... |
InCred Financial Services Limited
Unit No. 1203, 12th Floor, B Wing,
Plot No. C - 70, G Block, Bandra Kurla Complex,
Mumbai - 400 051, Maharashtra
Phone: +91 22 6844 6100
Email: incred.compliance@incred.com
Website: https://www.incred.com/
Link Intime India Private Ltd
Link Intime India Private Ltd
C 101, 247 Park, L.B.S.Marg,
Vikhroli (West), Mumbai - 400083
Phone: +91-22-4918 6270
Email: incred.ncd@linkintime.co.in
Website: https://linkintime.co.in/initial_offer/public-issues.html
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