InCred Holdings Limited Unlisted Shares

InCred Financial Services Ltd. is a non-banking financial company (NBFC) that offer a diverse portfolio of loans products including personal loans, education loans, SME (small and medium enterprise) business loans, and merchant loans to meet the varied credit needs of emerging India. The Corporate was formerly known as Kkr Capital Markets India Limited. It has recently acquired a unicorn status after a fundraising in November, 2023.

Company Overview

InCred Group stands as a prominent figure in the financial services sector, encompassing Financing, Investment Banking, Wealth Management, Asset Management, and Institutional Equities. It operates through two main entities: InCred Holdings Limited, acting as the parent company, and its subsidiary, InCred Financial Services Limited, which directly engages with borrowers.

InCred Holdings Limited is the parent company, established in 2011 under the name KKR Capital Markets India Limited. Following the merger with KKR India Financial Services in July 2022, it was renamed InCred Holdings. It doesn't directly offer financial products. Instead, it serves as the financial backbone for its subsidiary, InCred Financial Services.

On the other hand, InCred Financial Services Ltd. operates as a non-banking financial company (NBFC), offering a diverse array of loan products catering to various credit requirements in emerging India, including personal loans, education loans, SME business loans, and merchant loans. Renowned for its utilization of technology and data science, InCred streamlines the loan application process, often approving loans online, aiming to offer a more efficient lending experience compared to traditional lenders.

Recently, Crisil and Care ratings have improved the credit rating of InCred to AA-/stable.

Business Entities

InCred operates through three main business entities, each catering to a specific financial service area:

1. InCred Finance: offering personal loans, education loans, and SME business loans
2. InCred Capital: This arm deals with wealth management, investment banking, and equities
3. InCred Money: This entity focuses on retail bonds and alternative investments products

Management

Mr. Bhupinder Singh, Wholetime Director & CEO, Founder of the Incred Group

Prior to Incred:

• Co-headed the Investment Banking and Securities division of Deutsche Bank for the Asia Pacific region
• Head of the Corporate Finance division for Deutsche Bank in the Asia Pacific region
• Post Graduate Diploma in Management (PGDM) from IIM Ahmedabad

Mr. Vivek Bansal, Wholetime Director & CFO

Prior to Incred:

• Deputy Chief Financial Officer at Yes Bank
• He worked with Fidelity Investments in London and Standard Chartered in Mumbai
• Chartered Accountant and a CFA