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Incred Financial Services Limited NCD (Incred Financial Services NCD Tranche I Jan 2023) Detail

Jan 9, 2023 - Jan 27, 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 offer its services to lower middle-class to middle-class Indian households and resolve 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 & Escrow Backed Business Loans, Structured Lending, and Lending to FIs.

Incred Financial Services NCD Tranche I Jan 2023 Detail

Issue Open Jan 9, 2023 - Jan 27, 2023
Security Name Incred Financial Services Limited
Security Type Secured, Redeemable, Non-Convertible Debentures (Secured NCDs)
Issue Size (Base) Rs 175.00 Crores
Issue Size (Shelf) Rs 350.00 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+/Stable by CRISIL Ratings Limited
Tenor 27 and 39 months
Series

Series I to IV

Payment Frequency Annual and Quarterly
Basis of Allotment First Come First Serve Basis
Debenture TrustiesCATALYST TRUSTEESHIP LIMITED

NCD Allocation Ratio

Category ? NCD's Allocated
Institutional 20%
Non-Institutional 20%
HNI 30%
Retail 30%

NCD's Offered by Category

Category ? NCD's Reserved
Institutional 350,000
Non-Institutional 350,000
HNI 525,000
Retail 525,000
Total NCD's 1,750,000

Incred Financial Services Limited NCD Coupon Rates

#Series 1Series 2Series 3Series 4
Frequency of Interest PaymentQuarterlyAnnualQuarterlyAnnual
NatureSecuredSecuredSecuredSecured
Tenor27 months27 months39 months39 months
Coupon Rate (Retail)9.45%9.80%9.65%10.00%
Effective Yield (% per Annum)9.78%9.82%10.00%10.02%
Amount on MaturityRs 1,000.00Rs 1,000.00Rs 1,000.00Rs 1,000.00

NCD Rating

The company has received rating of CRISIL A+/Stable by CRISIL Ratings Limited for the NCDs proposed to be issued pursuant to this Issue.

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 (Consolidated)
Period EndedTotal AssetsTotal RevenueProfit After TaxNet Worth
31-Mar-202232.1332.675.161040.5
31-Mar-212804.53392.482.171054.01
31-Mar-224034.65524.2730.831115.19
30-Sep-226194.28398.1246.762391.19
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 NCD Tranche I Jan 2023 Prospectus

Incred Financial Services NCD Tranche I Jan 2023 Subscription Status

The Incred Financial Services NCD Tranche I Jan 2023 was subscribed 1.51 times on Jan 27, 2023 5:00:00 PM. The NCD subscribed 1.72 times in Retail, 1.83 times in HNI, 1.93 times in Non-Institutional, and 0.29 times in the Institutional category.

Category ?Subscription (times)
Retail1.72x
HNI1.83x
Non-Institutional1.93x
Institutional0.29x
Total1.51x

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Incred Financial Services NCD Tranche I Jan 2023 Rating

3
2.7
Rating:Rated 2.7 stars
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Incred Financial Services NCD Tranche I Jan 2023 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 NCD Tranche I Jan 2023 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/

Incred Financial Services NCD Tranche I Jan 2023 Lead Manager(s)


1 Comments

1. S K GUPTA   I Like It. |Report Abuse|  Link|Jan 3, 2023 8:45:25 PMReply
Please update Tenor & coupon rate details