Bookbuilding IPO | ₹[.] Cr | Listing at BSE, NSE |
SEBI has approved the Initial Public Offer (IPO) of InCred Holdings Ltd. on February 5, 2026. The company will proceed with next steps to launch the Initial Public Offer (IPO) subject to market conditions and other approvals. The SEBI approval is valid for 18 months.
InCred Holdings Ltd. IPO is a Book Build Issue consisting of fresh issue of ₹1,250.00 crores and an offer for sale (OFS) of upto 9.90 crore equity shares.
The equity shares are proposed to be listed on NSE and BSE. IIFL Capital Services Ltd. is the book running lead manager and MUFG Intime India Pvt.Ltd. is the registrar of the issue. Key details like IPO dates, IPO price bands and lot size are yet to be announced.
Refer to InCred Holdings IPO DRHP for more details.
| IPO Date | [.] |
| Listing Date | [.] |
| Face Value | ₹10 per share |
| Price Band | |
| Lot Size | |
| Sale Type | Fresh capital cum OFS |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Fresh Issue | [.] shares (agg. up to ₹1,250 Cr) |
| Offer for Sale | 9,90,20,833 shares of ₹10 (agg. up to ₹[.] Cr) |
| Share Holding Pre Issue | 65,59,44,906 shares |
| Description | Date |
|---|---|
| Filed with SEBI/Exchange | Thu, Nov 6, 2025 |
| SEBI/Exchange approval received | Thu, Feb 5, 2026 |
| Investor Category | Shares Offered |
|---|---|
| QIB Shares Offered | Not more than 50% of the Issue size |
| Retail Shares Offered | Not Less than 35% of the Net Issue |
| NII Shares Offered | Not Less than 15% of the Net Issue |
| Category | Limit | Cut-off |
|---|---|---|
| RII | Up to ₹2 Lakhs | Yes |
| sNII | ₹2 Lakhs – ₹10 Lakhs | No |
| bNII | Above ₹10 Lakhs | No |
| Employee (EMP) | Up to ₹2 Lakhs | Yes |
| Employee + RII/NII | Up to ₹2Lakhs (EMP) + RII/NII limits | Yes (EMP/RII) |
Incorporated in January 2011, InCred Holdings Limited is a diversified financial services company engaged in merchant banking, debt syndication, debt advisory, corporate consultancy, fund-raising, and investment management services. The company is registered as a Merchant Banker with SEBI and also acts as an investment manager to a SEBI-registered Alternative Investment Fund.
The company derives a significant portion of its business through its material subsidiary, InCred Financial Services Limited (IFSL), a retail-focused, middle-layer NBFC registered with the Reserve Bank of India. InCred offers a diversified lending portfolio across Personal Loans, Student Loans, Secured Business Loans, Specialized MSME Loans, and Lending to Financial Institutions. As of March 31, 2025, the company had Assets Under Management (AUM) of ₹12,585 crore and reported a Profit After Tax (PAT) of ₹373 crore.
Founded by Mr. Bhupinder Singh in 2017, InCred focuses on serving underserved borrower segments through a technology-driven platform, robust risk management framework, multi-channel distribution network, and customer-centric lending solutions. The company leverages AI-enabled technology across the customer lifecycle, from loan origination and underwriting to collections and customer service.
As of December 31, 2025, the company had a consolidated workforce of 2,980 employees.
Key Strengths
| Period Ended | 31 Dec 2025 | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
|---|---|---|---|---|
| Assets | 14,716.31 | 12,500.53 | 8,767.62 | 6,678.80 |
| Total Income | 1,870.14 | 1,893.77 | 1,296.13 | 880.71 |
| Profit After Tax | 290.15 | 373.15 | 309.04 | 109.06 |
| EBITDA | 1,103.56 | 1,152.89 | 871.50 | 560.25 |
| NET Worth | 4,202.44 | 3,803.27 | 3,386.77 | 2,547.80 |
| Reserves and Surplus | 3,556.20 | 3,335.29 | 2,742.02 | 1,953.00 |
| Total Borrowing | 10,163.76 | 8,358.51 | 5,017.15 | 3,864.37 |
| Amount in ₹ Crore | ||||
| Company | Issue Type | Issue Size | Issue Price | PE Ratio | Listing Day Close | Listing Gain/Loss % | LTP |
|---|---|---|---|---|---|---|---|
| OnEMI Technology Solutions Ltd. | Mainboard | ₹925.92 Cr | ₹171 | 12.65 | ₹208.63 | +22.01% | ₹279.30 (-0.18%) |
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Gross proceeds of the Fresh Issue | 1,250.00 |
| Total | 1,250.00 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (₹) | 5.69 | |
| Promoter Holding | 20.97% |
Lead Manager Reports
InCred Holdings IPO is a main-board IPO of 0 equity shares of the face value of ₹10 aggregating up to ₹[.] Crores. The issue is priced at To be declared. The minimum order quantity is .
The InCred Holdings IPO open and close dates are not available as of now.
MUFG Intime India Pvt.Ltd. is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.
Zerodha customers can apply online in InCred Holdings IPO using UPI as a payment gateway. Zerodha customers can apply in InCred Holdings IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in InCred Holdings IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The InCred Holdings IPO dates are not announced. Please check back again after some time.
InCred Holdings IPO lot size and the minimum order quantity is not available at this time. Please check again later.
You can apply in InCred Holdings IPO online using either UPI or ASBA as a payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO Application is offered by brokers who don't offer banking services. Read more detail about applying IPO online through Zerodha, Upstox, 5Paisa, Nuvama, HDFC Bank, and SBI Bank.
The finalization of Basis of Allotment for InCred Holdings IPO will be done on [.], and the allotted shares will be credited to your demat account by . Check the InCred Holdings IPO allotment status.
The InCred Holdings IPO listing date is not yet announced. The tentative date of listing is .
