IPO · Financial Services

InCred Financial Services plans IPO with Rs 1,250 crore fresh issue

By Startup Enthusiast · 23 July 2026

What they do

InCred Financial Services is a retail-focused NBFC offering personal loans, student loans, and MSME financing

The company plans an IPO with a fresh issue of Rs 1,250 crore and an offer for sale (OFS) of up to 9.90 crore equity shares

InCred reported a 17% increase in profit to Rs 438 crore in FY26, with revenue growing 36% to Rs 2,546 crore

InCred Financial Services, the lending arm of InCred Holdings, reported strong financial results in FY26 ahead of its proposed IPO.
The company's revenue from operations rose to Rs 2,546 crore in FY26, up 36% year-on-year from Rs 1,872 crore in FY25.
InCred's profit increased by 17% to Rs 438 crore in FY26, compared to Rs 374 crore in the previous fiscal year.
The firm filed an updated draft red herring prospectus (UDRHP) with SEBI for its IPO, which includes a fresh issue of shares worth Rs 1,250 crore.
Existing shareholders, including KKR, MNI Ventures, and others, will participate in the offer for sale (OFS) of up to 9.90 crore equity shares.

InCred's strong financial performance, including a 36% revenue growth and 17% profit increase, supports its IPO plans.
The company's operating revenue grew 38% year-on-year to Rs 2,331 crore, driven by interest income from loan disbursements.
InCred's total financial assets stood at Rs 15,243 crore as of March 2026, including a cash and bank balance of Rs 824 crore.

InCred Financial Services is a retail-focused non-banking financial company (NBFC) offering a range of lending products.
The company provides personal loans, student loans, secured business loans, and specialised financing for micro, small, and medium enterprises (MSMEs).
InCred also offers loans to financial institutions and generates income from fees, commissions, and net gains on financial assets.
The firm operates in India and is based in Mumbai, with a focus on retail and small business lending.
InCred's revenue is primarily driven by interest income from loan disbursements, which accounted for 91% of its total operating revenue in FY26.

InCred Financial Services plans to proceed with its IPO, which includes a fresh issue of shares worth Rs 1,250 crore.
The company will also conduct an offer for sale (OFS) of up to 9.90 crore equity shares.

KKR (existing shareholder) — Global investment firm with interests in financial services and private equity.
MNI Ventures (existing shareholder) — Private equity firm focused on early-stage investments in India.
Mohandas Pai Family (existing shareholder) — Prominent Indian business family with investments in education and technology.
Moore Strategic (existing shareholder) — Private equity firm with a focus on growth-stage investments.
V'Ocean Investments (existing shareholder) — Investment firm with a focus on financial services and technology.