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KKR, a private equity firm backed by InCred Financial Services Ltd, is eying Rs. 5000 cr IPO in the upcoming 1-2 years. The capital raise is expected after KKR, holding 13.4% of the company’s stake, agrees to exit the IPO.
As per Bhupinder Singh, the founder and group CEO of InCred Financial, they have enough capital, including his own, for supporting the growth plans. To date, they have raised capital when needed in the private market, and now a potential listing in 1 to 2 years is expected to further their growth plans
Economic Times news from May this year reported that Mizuho, a Japanese bank is in talks for acquiring the stake of KKR in InCred. However, the report was dismissed by Singh.
InCred Finance was started by Singh in 2017. After co-heading the banking and markets department for Asia Pacific at Deutsche Bank, he launched the firm and, in just 6 years, grew its assets under the management to nearly Rs 10,000 crore. With the growth and achievements received over time, as per Mint, Singh now aims to make InCred Financial the next Bajaj Finance.
In March, InCred received a rating upgrade with Crisil. It now stands at A+. The firm's net profit rose 80.69% in the quarter ending March 2024. Its capital adequacy stands at 33 percent, and its loans are sourced via direct lending, constituting 85% of the assets under the management and 15% under co-lending books.
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