Bengaluru-based InCred Holdings, a lender that has helped thousands of individuals and small businesses access loans, is preparing to enter the stock market. The company has filed confidential papers with the Securities and Exchange Board of India (SEBI), aiming to raise ₹3,000–4,000 crore through an IPO.
Since its inception in 2016, InCred Financial Services, the company’s lending arm, has disbursed over ₹25,000 crore to more than 4 lakh customers. It operates through 140+ branches and employs around 2,600 people.
The company has posted strong financial growth in FY 25. Its assets under management (AUM) rose 39% year-on-year to ₹12,585 crore, profit after tax increased 18% to ₹372 crore, and total income surged 50% to ₹1,255 crore. InCred also maintains solid fundamentals, with a capital adequacy ratio of around 26% and net non-performing assets of just 0.7%.
By choosing SEBI’s confidential pre-filing route, InCred can submit its draft documents without immediate public disclosure, giving it flexibility in timing the IPO. This approach has become popular among Indian companies planning to go public.
The funds raised from the IPO are expected to support InCred’s continued expansion in personal loans, MSME financing, education loans, secured business lending, and institutional lending. The move will help the company reach more customers and strengthen its foothold in India’s growing credit market.