InCred Finance, the lending arm of the InCred Group, is advancing toward an initial public offering (IPO), according to a media report.
A Mint report suggested that InCred aims to raise Rs 4,000-5,000 crore ($471-588 million) through its IPO, at a valuation ranging between Rs 15,000 crore and Rs 22,500 crore, a price of Rs 225 to 325 a share. The company is reportedly targeting a listing in the last quarter of 2025.
The Bhupinder Singh-led fintech firm achieved unicorn status after raising $60 million in a Series D round from new and existing investors in December 2023. Entrackr was the first to report this development.
The funding and unicorn milestone followed InCred’s strong performance in FY24, as its revenue from operations grew by 48% to Rs 1,267 crore. The company also reported a profit after tax (PAT) of Rs 316 crore in the last fiscal year. InCred claims to have provided credit to 350,000 borrowers since its inception in 2016.
The InCred Group operates three entities: InCred Finance, InCred Capital, and InCred Money. InCred Capital recently raised $70 million at a valuation of $600 million, generating significant returns for early investors.
In a recent interaction with Entrackr, Singh stated that the company’s AUM grew by 49% in FY24 to reach Rs 9,000 crore. Personal loans accounted for 44%, MSME loans contributed 35%, and education loans made up 21% of the total loan book, including third-party capital.
InCred group has also made headlines for notable investments, such as in Oyo, in recent times. According to Singh, the firm invests in startups through InCred Capital, focusing on identifying attractive investment opportunities in private companies.
Entrackr has reached out to Singh for more information.
The public market for fintech companies has witnessed a shift in investor interest. Paytm’s stock recently hit a three-year high, while MobiKwik garnered significant investor attention as it prepares for its listing on the bourses. Meanwhile, microlending platform Aye Finance has filed its draft IPO papers with SEBI.
Source: Entrackr : Latest Posts