[.]| Listing at BSE | Wed, Oct 25, 2023 - Tue, Nov 7, 2023
Incred Financial Services Ltd. NCD issue is a public issue of secured, redeemable, non-convertible debenture , issued under a Shelf Prospectus of ₹300.00 Cr with a base issue size of ₹150.00 Cr and an option to retain oversubscription up to ₹[.] Cr, aggregating to a tranch issue size of ₹[.] Cr. The NCDs are offered at a face value ₹1000 each and an issue price of ₹1000 per NCD.
Incred Financial Services Ltd. NCD issue opens on Oct 25, 2023 and closes on Nov 7, 2023. NCD are proposed to be listed on BSE.
The minimum lot size is 10 NCDs, requiring a minimum investment of ₹ 10,000 , while the market lot for trading is 1 NCD.
The issue offers interest rates ranging from 9.48% per annum to 10.30% per annum, depending on the series and tenure selected.
The NCD has been rated: .
JM Financial Ltd. is the Lead Manager to the issue, Catalyst Trusteeship Ltd. is the Debenture Trustee, and MUFG Intime India Pvt.Ltd. is the Registrar to the Issue.
Investors are advised to refer to the NCD Offer Document for detailed information on risk factors, financials, and the terms of the issue.
Open Date
Wed, Oct 25, 2023
Close Date
Tue, Nov 7, 2023
Issue Size (Overall)
[.]
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 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 | |||
InCred Holdings Limited (erstwhile known as KKR Capital Markets India Limited), and Bhupinder Singh are the promoters of the company.
| Category | Allocated (%) | Shares Reserved |
|---|---|---|
| Institutional | 5.00% | 75,000 |
| Non-Institutional | 10.00% | 1,50,000 |
| HNI | 40.00% | 6,00,000 |
| Retail | 45.00% | 6,75,000 |
| Total | 100.00% | 15,00,000 |
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
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.
The company proposes to utilize the funds which are being raised through the Issue:
[Dilip Davda] The company has posted improved performances for the reported periods. The issue offers lucrative coupon rates with A+/Stable rating. Investors looking for steady income may park funds for medium to long term. Read detail review...
The Incred Financial Services October 2023 NCD was subscribed 1.81 times on Nov 07, 2023 18:00. The NCD subscribed 2.20 times in Retail, 1.17 times in HNI, 3.53 times in Non-Institutional, and 0.00 times in Institutional category.
Incred Financial Services Ltd.
Unit No. 1203, 12th Floor, B Wing, The Capital,
Plot No. C-70, G Block, Bandra Kurla Complex,
Bandra (East), Mumbai - 400 051
Bandra, Maharashtra, 400051
NSE and BSE offer NSEgoBid and BSEDirect apps/websites through which retail investors can apply for NCDs up to Rs 5 lakhs. Not all brokers and banks provide the facility to apply for NCD online.
To apply for an NCD online, the investor should fill in the NCD bid details online and provide the details of the DP and bank accounts (ASBA/UPI) as requested. In the case of a UPI application, the investor needs to approve the UPI mandate to complete the application process.
Steps to invest in NCD IPO through GoldenPi
Retail investors can apply for an IPO online if the investment amount is less than or up to 10 lakhs.
Steps to apply for NCD IPO with Indiabonds:
You can buy or invest in NCD IPOs through the following intermediaries:
The investor can apply for the NCD IPO online through NCD intermediaries such as a registered stockbroker, provided the broker offers an online application for the NCD IPO. Not many brokers allow you to invest in an NCD IPO online. Currently, very few brokers, such as Nuvama Wealth, Angel One, and SBI Securities, offer the facility to apply for NCD IPOs electronically. You should check with your broker or intermediary to see if the online application facility for the NCD IPO is available through them.
Refer to the detailed guidelines on NSEgoBID and BSEDirect for information on the registration process and how to apply for NCDs through the exchange.
Important links :
Read more about NCD Application Process.
The minimum amount required for NCD investment is Rs. 10,000.
Generally, the minimum lot size of NCD is 10, and the face value is 1,000.
NCD allotment can be checked on the BSE website or with the Registrar once the allotment has been made.
Steps to check the NCD allotment status at the BSE:
Alternatively, the applicant can also check the allotment status on the respective website of the Registrar for the issue. The applicant will need their PAN details or the applicant's Aadhaar number to check the status.
Generally, all applicants receive full allotment due to the retention of the oversubscription option.
Read more information on NCD Subscription and NCD Allotment Process.
No, you cannot withdraw or redeem Incred Financial Services Ltd. NCDs before maturity directly from the company. However, there are a couple of options available if you want to exit early:
If the NCDs are listed on stock exchanges (like BSE/NSE), you can:
Only possible if a "call option" exists.
Read more about NCD Subscription and Allotment Process
Bid Cancellation and Withdrawal Policy for NCD Applicants
Note:
The specific process and conditions for post-closure cancellation vary by issuer. Applicants should refer to the Offer Document for issuer-specific guidelines.
