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Incred Financial Services Limited NCD (Incred Financial Services October 2023 NCD) Detail

October 25, 2023 - November 7, 2023
Incred Financial Services Limited Logo

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 offers its services to lower middle-class to middle-class Indian households and resolves 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.

The products of InCred Financial Services Limited can be categorized as

  1. Consumer Loans
  2. Education Loans
  3. MSME Loans

The company further divides the products and services as - Personal Loans, Student Loans, Secured School Financing, Anchor and escrow Backed Business Loans, Structured Lending, and Lending to FIs.

Incred Financial Services October 2023 NCD Detail

Issue Open October 25, 2023 - November 7, 2023
Security Name Incred Financial Services Limited
Security Type Secured, Redeemable, Non-Convertible Debentures (Secured NCDs)
Issue Size (Base) Rs 150.00 Crores
Issue Size (Shelf) Rs 300.00 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
Credit Rating CRISIL A+/Stable by CRISIL Ratings Limited.
Tenor 18, 24 and 36 months
Series

Series I to V

Payment Frequency Monthly, Quarterly and Annually
Basis of Allotment First Come First Serve Basis
Debenture Trustee/sCatalyst Trusteeship Limited

NCD Allocation Ratio

Category ? NCD's Allocated
Institutional 5%
Non-Institutional 10%
HNI 40%
Retail 45%

NCD's Offered by Category

Category ? NCD's Reserved
Institutional 75,000
Non-Institutional 150,000
HNI 600,000
Retail 675,000
Total NCD's 1,500,000

Incred Financial Services Limited NCD Coupon Rates

#Series 1Series 2Series 3Series 4Series 5
Frequency of Interest PaymentMonthlyQuarterlyMonthlyAnnualMonthly
NatureSecuredSecuredSecuredSecuredSecured
Tenor18 Months24 Months24 Months36 Months36 Months
Coupon (% per Annum)9.48%9.55%9.66%10.30%9.84%
Effective Yield (% per Annum)9.88%9.88%10.08%10.28%10.29%
Amount on Maturity (In Rs.)Rs 1,000.00Rs 1,000.00Rs 1,000.00Rs 1,000.00Rs 1,000.00

NCD Rating

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

Company Promoters

InCred Holdings Limited (erstwhile known as KKR Capital Markets India Limited), and Bhupinder Singh are the promoters of the company.

Company Financials

Incred Financial Services Limited Financial Information (Restated Consolidated)

Incred Financial Services Limited's revenue increased by 67.37% and profit after tax (PAT) rose by 234.79% between the financial year ending with March 31, 2023 and March 31, 2022.

Period Ended31 Mar 202331 Mar 202231 Mar 2021
Assets6,608.394,034.652,804.53
Revenue877.45524.27392.48
Profit After Tax120.9236.1210.23
Net Worth
Reserves and Surplus
Total Borrowing
Amount in ₹ Crore

Objects of the Issue

The company proposes to utilize the funds which are being raised through the Issue:

  1. 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.
  2. General Corporate Purposes - 25% of the amount raised and allotted in the Issue.

Incred Financial Services October 2023 NCD Prospectus

Incred Financial Services October 2023 NCD Subscription Status

The Incred Financial Services October 2023 NCD was subscribed 1.81 times on November 7, 2023 6:00:00 PM. The NCD subscribed 2.20 times in Retail, 1.17 times in HNI, 3.53 times in Non-Institutional, and 0.00 times in the Institutional category.

Category ?Subscription (times)
Retail2.20x
HNI1.17x
Non-Institutional3.53x
Institutional0.00x
Total1.81x

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Incred Financial Services October 2023 NCD Rating

5
4.2
Rating:Rated 4.2 stars
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Incred Financial Services October 2023 NCD Reviews

Company Contact Information

Incred Financial Services Limited
Unit No. 1203, 12th Floor, B Wing, The Capital,
Plot No. C-70, G Block, Bandra Kurla Complex,
Bandra (East), Mumbai - 400 051

Phone: +91 22 6844 6100
Email: incred.compliance@incred.com
Website: http://www.incred.com/

Incred Financial Services October 2023 NCD Registrar

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.ncd2@linkintime.co.in
Website: https://linkintime.co.in/initial_offer/public-issues.html

Incred Financial Services October 2023 NCD Lead Manager(s)


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