InCred Financial Services Limited NCD (InCred Financial Services NCD January 2022) Detail

Jan 24, 2022 - Feb 14, 2022
InCred Financial Services Limited Logo

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.

InCred Financial Services NCD January 2022 Detail

Issue Open Jan 24, 2022 - Feb 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 I to Series III

Payment Frequency Annual and Cumulative
Basis of Allotment First Come First Serve Basis

NCD Allocation Ratio

Category ? NCD's Allocated
Institutional 5%
Non-Institutional 20%
HNI 5%
Retail 70%

NCD's Offered by Category

Category ? NCD's Reserved
Institutional 62,500
Non-Institutional 250,000
HNI 62,500
Retail 875,000
Total NCD's 1,250,000

Coupon Rates for Each Series

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

NCD Rating

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.

Company Promoters

Mr. Bhupinder Singh and Bee Finance Limited, Mauritius; are the company promoters.

Company Financials

Summary of Consolidated financial Information
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

Objects of the Issue

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

  1. For the purpose of onward lending and financing business of the company in the ordinary course of business (including for repayment / refinance of existing debts of the company); and
  2. General corporate purposes

InCred Financial Services NCD January 2022 Prospectus

InCred Financial Services NCD January 2022 Subscription Status

The InCred Financial Services NCD January 2022 was subscribed 1.05 times on Feb 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)

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InCred Financial Services NCD January 2022 Rating

Rating:Rated 3.8 stars
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InCred Financial Services NCD January 2022 Reviews

Company Contact Information

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/

InCred Financial Services NCD January 2022 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.ncd@linkintime.co.in
Website: https://linkintime.co.in/

InCred Financial Services NCD January 2022 Lead Manager(s)


6. Ajit Katariya     Link|Mar 4, 2022 3:00:06 PM
Can someone share ISIN for this NCD
5. Shabs     Link|Mar 1, 2022 3:20:45 AM
My funds are still not unblocked. I have contacted wint, linkintime, and sundaecapital , no use :(. Any advise to have my money unblocked please.
5.1. Subs     Link|Mar 4, 2022 10:18:21 AM
Same issue for me. Amount not blocked yet.

Which bank you applied through ? Mine is SBI.
4. Sunil khanna     Link|Jan 31, 2022 4:58:30 PM
Whom I contact to invest in ur latest ncd.
3. Avishek     Link|Feb 2, 2022 6:00:24 PM
Kindly Confirm if all the series are Secured in Nature or other.
2. Suyash     Link|Jan 23, 2022 3:04:32 PM
Thanks Ganesh..i have decided now. I will put Just 15k
1. Suyash     Link|Jan 22, 2022 1:01:44 PM
Shall i invest 50k in series one? How safe it is for one year
1.1. Ganesh Tirumala     Link|Jan 22, 2022 4:55:41 PM
Suyash Ji, the NCD poses a high risk as the fundamentals of the NBFC are weak. It would be better to invest a small amount and diversify it in good ongoing NBFC like Muthoot Fincorp or any other upcoming NCD'S.