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Incred Holdings, parent company of InCred Financial Services has confidentially filed its DRHP with SEBI to raise around ₹3,000-4,000 crore via an IPO.
InCred is a digital-first NBFC offering loans for education, consumers, and small businesses using data and analytics.
What’s brewing: of the total IPO size, ₹1,500 crore will comprise the fresh issue, while the remaining portion will be an offer for sale by existing shareholders. The proceeds will bolster the capital base of its lending arm and fund expansion across business verticals.
Big theme: India’s digital lending market is on a steep growth curve, projected to reach $2.38 billion in revenue by 2030, growing at an impressive 30% annually between 2025 & 2030.
India has already brought over 400 million people into formal finance. But the next 100 to 200 million borrowers are mobile-first, new to credit, and mostly based in tier 2 and 3 cities, semi-urban areas, and rural regions.
NBFCs like InCred are stepping up to serve them by using AI, data analytics, and alternative credit models to bridge the lending gap.
