IPO · Financial Services

SEBI clears IPOs of InCred and SEDEMAC

By Startup Enthusiast · 6 February 2026

What they do

InCred, a fintech, plans a ₹3,000–4,000 Cr IPO after SEBI's clearance

SEDEMAC's IPO is a pure offer-for-sale of up to 80.43 lakh shares

Both firms filed in November, joining a queue of over 40 companies

SEBI issued observation letters to InCred and SEDEMAC, clearing their IPOs.
InCred filed its IPO papers confidentially in November.
InCred's IPO is expected to be ₹3,000 Cr to ₹4,000 Cr in size.
InCred sought shareholder approval to raise up to ₹1,500 Cr via a fresh issue.
SEDEMAC filed its DRHP in November.
SEDEMAC's IPO is solely an offer-for-sale of up to 80.43 Lakh shares.
Selling investors in SEDEMAC include A91 Partners, 360 ONE Asset, and Xponentia Capital.
SEDEMAC founder Manish Sharma is selling 45,000 shares in the IPO.

Eighteen new-age tech companies went public last year, showing strong IPO momentum.
More than 40 companies are in the IPO queue, indicating a busy market.
SEBI has cleared IPOs of several firms including PhonePe, boAt, and Turtlemint recently.
Fractal Analytics and Aye Finance IPOs open Feb 9, showing continued activity.

InCred is a fintech company offering lending and other financial services.
SEDEMAC is an IIT Bombay-incubated deeptech company.
InCred's FY25 operating revenue was ₹1,873.6 Cr, up 47% from the prior year.
InCred's FY25 net profit was ₹373.1 Cr, up 21% from ₹309 Cr.
SEDEMAC's FY25 operating revenue was ₹658.4 Cr, up 24%.
SEDEMAC's FY25 net profit was ₹47.1 Cr, up 8 times year-on-year.