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NCD Status: Closed [25th Oct 2023 to 7th Nov 2023]
Incred Financial Services Limited is issuing secured and redeemable NCDs with a base issue size of Rs 150.00 Cr and shelf issue size of Rs 300.00 Cr. The subscription period is from October 25, 2023 to November 7, 2023 and the company is issuing Series I to V at an issue price of Rs. 1000 per NCD. The NCDs can be subscribed for a minimum amount of Rs. 10,000 (10 NCDs) . The face value of each NCD is Rs. 1000. The tenure of the NCDs is 18, 24 and 30 months with a coupon rate of 9.48% to 10.30% per annum.
Learn more about Incred Financial Services Limited including credit rating, coupon rates for each series, basis of allotment, payment frequency and more.
| NCD Opening Date: | 25th Oct 2023 |
| NCD Closing Date: | 7th Nov 2023 |
| NCD Type: | Secured NCD |
| Issue Size (Base): | ₹150.00Cr |
| Issue Size (Shelf): | ₹300.00Cr |
| Face Value: | Rs 1000 each NCD |
| Issue Price: | Rs 1000 per NCD |
| Market Lot: | 1 NCD |
| Min Order Qty: | 10 NCD |
| Min Order Amount: | Rs 10000 |
| Listing at: | BSE |
| Tenor: | 18, 24 and 36 months |
| Rating: | CRISIL A+/Stable by CRISIL Ratings Limited. |
| Series: | Series I to V |
| Payment Frequency: | Monthly, Quarterly and Annually |
| Basis of Allotment: | |
| Interest on return: |
Zerodha Trade@20
| NCD Activity | Date |
|---|---|
| NCD Issue Open | 25th Oct 2023 |
| NCD Issue Close | 7th Nov 2023 |
| BSE Code: | 3188 |
| BSE Script Symbol: | INCR24 |
* - Tentative Dates
| Category Name | NCD's Reserved | NCD's Allocated |
|---|---|---|
| Institutional | 75000 | 5% |
| Non-Institutional | 150000 | 10% |
| HNI | 600000 | 40% |
| Retail | 675000 | 45% |
Incred Financial Services Limited was incorporated in March 1997. It is a non-deposit taking systemic NBFC registered with the RBI. The company provides personal finance such as education and personal loans to Indian households from middle class to middle class. Accordingly, it also offers secured and unsecured business loans to small businesses, secured loans to Indian K12 schools for their expansion plans, supply chain financing, loans to profitable financial institutions and microfinance companies, and trust-backed loans through its SME vertical.
Prior to the split, KKR offered structured finance, promoter finance and mezzanine finance. To consolidate the non-bank financing business related to email and SME lending and complementary financing activities operated by InCred prior to the Demerger, the unbundled InCred was combined with KKR prior to the Demerger to achieve greater economies of scale, operational rationalisation and organisational efficiencies, a broader market and customer base, the pooling of knowledge and expertise, and the reduction of redundant costs.
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 Ended | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
| Assets | 6,608.39 | 4,034.65 | 2,804.53 |
| Revenue | 877.45 | 524.27 | 392.48 |
| Profit After Tax | 120.92 | 36.12 | 10.23 |
| Net Worth | |||
| Reserves and Surplus | |||
| Total Borrowing | |||
| Amount in ₹ Crore | |||
The company proposes to utilize the funds which are being raised through the Issue:
Incred Financial Services Limited NCD Coupon Rates
| # | Series 1 | Series 2 | Series 3 | Series 4 | Series 5 |
|---|---|---|---|---|---|
| Frequency of Interest Payment | Monthly | Quarterly | Monthly | Annual | Monthly |
| Nature | Secured | Secured | Secured | Secured | Secured |
| Tenor | 18 Months | 24 Months | 24 Months | 36 Months | 36 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 1,000.00 | Rs 1,000.00 | Rs 1,000.00 | Rs 1,000.00 | Rs 1,000.00 |
InCred Holdings Limited (erstwhile known as KKR Capital Markets India Limited), and Bhupinder Singh are the promoters of the company.
The NCDs proposed to be issued have been rated 'CRISIL A+/Stable' by CRISIL Ratings Limited.
Last Updated on 2023-11-10T05:32:51+00:00
