InCred Holdings has filed an Updated Draft Red Herring Prospectus (UDRHP) with SEBI for its proposed IPO, with the issue size estimated at ₹3,000–4,000 crore.
The IPO will comprise a fresh issue of equity shares worth up to ₹1,250 crore along with an Offer for Sale (OFS) of up to 9.9 crore shares by existing investors.
The company is reportedly targeting a valuation of around ₹15,000 crore, reflecting growing investor interest in scalable retail-focused NBFC platforms.
Existing shareholders participating in the OFS include KKR India Financial Investments, MNI Ventures, MEMG Family Office LLP, and V’Ocean Investments Ltd, indicating partial monetisation by early institutional investors.
InCred plans to launch the IPO depending on market conditions and investor sentiment, suggesting flexibility around timing amid evolving capital market dynamics.
The proposed listing comes as India’s NBFC sector continues to attract strong public market interest, particularly for companies with diversified retail lending exposure and technology-led underwriting models.
