Incred Holdings
| Market Cap | ₹0Cr. | Stock P/E | 34.3 |
| Current Price | ₹170 | Book Value | ₹₹ 52.8 |
| Lot Size | 250 | 52W Low | ₹ |
| 52W High | ₹₹ 180 | Demat Account | NSDL\CDSL |
| EPS | 4.82 | ISIN | INE732W01014 |
| Debt to Equity | 0 | Valuation | ⭐⭐⭐⭐ |
| Face Value | 10 | No. of Shares | 64.18Cr |
Description
| Buy Price | Minimum Quantity | Amount |
|---|---|---|
| ₹ 140 | 1000 | ₹ 1,40,000 |
| Sell Price | Minimum Quantity | Amount |
|---|---|---|
| ₹ 170 | 1000 | ₹ 1,70,000 |
Company Overview:
InCred Holdings Limited is a fast-growing, diversified financial services company headquartered in Mumbai, India. Founded in 2016 by Bhupinder Singh, a former Deutsche Bank executive, the company operates across multiple verticals, including consumer lending, education financing, MSME loans, asset and wealth management, investment banking, and digital investment distribution. As the parent company of the InCred Group, it has built a strong presence with over 3,500 employees across 150+ locations in India. InCred’s business model combines traditional lending with a strong technology and data analytics focus, allowing it to scale efficiently and manage risk effectively. Over the years, InCred has achieved notable milestones—launching NBFC operations in 2016, acquiring fintech platform Qbera in 2020, and forming strategic partnerships with platforms like Amazon and Flipkart. It reached unicorn status after merging with KKR India Financial Services and completing a ₹500 crore Series D funding round. Financially, the group has shown strong performance with Assets Under Management (AUM) growing to approximately ₹9,000 crore in FY24, a profit after tax of ₹309 crore, and consistently high collection efficiency (\~98%). Its gross and net NPAs are stable at around 2.1%, while capital adequacy remains robust (CAR \~33%). InCred’s strategic strengths lie in its diversified lending model, technology-driven risk assessment, solid capital backing from global investors like KKR, and credible governance structure.
Announcement and News
Kamath brothers invest Rs 250 crore in IPO-bound financial services firm InCred Zerodha founders Nikhil and Nithin Kamath have acquired a minority stake in InCred Holdings Limited, the parent company of IPO-bound lending firm InCred Financial.
The investment was made through a Rs 250-crore purchase of shares, the firm said in a statement on June 23.
“India’s credit ecosystem is changing fast—more formal, more digital, and more accessible,” said Nikhil Kamath. “InCred Group seems to get that. They’ve built a strong team, a technology-first approach, and a clear view of where the market is headed. Backing them is a bet on that broader shift—and the belief that responsible lending can scale without losing sight of fundamentals.” he development comes a week after InCred Money, the retail wealthtech arm of the Group, acquired South Asian Stocks Limited (SASL), which operates the discount broking platform Stocko. The deal marked InCred’s entry into the retail broking space. Once the deal is cleared, the platform will be rebranded as InCred Stocko and integrated into the InCred Money digital investment suite, which currently offers fixed deposits and alternative investment products, the firm said in a statement, without sharing the financial details of the deal.
InCred Group, founded in 2016 by Bhupinder Singh, operates across three verticals: InCred Finance (NBFC lending), InCred Capital (institutional, asset, and wealth management) and InCred Money (retail investment distribution). The group’s revenue from operations grew by 48 percent to Rs 1,267 crore while profit after tax (PAT) stood at Rs 316 crore.
In 2022, InCred Finance merged with KKR India Financial Services, creating a joint entity under the InCred Finance brand.
The NBFC arm, which achieved its coveted unicorn status (companies valued at over $1 billion) in 2023 after raising $60 million from investors Ranjan Pai of MEMG, RP Group chairman Ravi Pillai, and Deutsche Bank’s Ram Nayak, completed the acquisition of TruCap Finance’s gold loan business through a slump sale to enter the new market and strengthen secured lending portfolio.
Financial Data (IN CR.)
| YEAR | 2024 | 2023 | 2022 |
|---|---|---|---|
| NET SALES | 1272.7 | 865.7 | 488 |
| TOTAL INCOME | 1296.1 | 880.7 | 524.3 |
| NET PROFIT | 309 | 109.1 | 30.8 |
| SHAREHOLDERS FUND | 3386.8 | 2547.8 | 1115.2 |
| TOTAL ASSETS | 8767.6 | 6678.8 | 4034.6 |
| EPS | 4.82 | 1.7 | 0.48 |
Profit and Loss (IN CR.)
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Balance Sheet (IN Cr.)
| Mar 2022 | Mar 2023 | Mar 2024 | |
|---|---|---|---|
| Share Capital | 480.5 | 480.5 | 480.5 |
| Reserves | -220 | -239 | -288 |
| Borrowings | 0 | 0 | 0 |
| Other Liabilities | 189.92 | 56.5 | 53.5 |
| Total Liabilities | 451 | 299 | 249 |
| Fixed Assets | 24 | 14 | 11.5 |
| CWIP | 2 | 0.4 | 0 |
| Investments | 81 | 73 | 49 |
| Other Assets | 340 | 210.6 | 185.5 |
| Total Assets | 451 | 299 | 249 |
Shareholding Pattern
| Mar 2022 | Mar 2023 | Mar 2024 | |
|---|---|---|---|
| Financial Institutions /Banks | 14.94% | 14.94% | 14.94% |
| Boodies Corporate | 18.05% | 18.20% | 17.85% |
| Individuals | 55% | 55.04% | 55.59% |
| Others | 12% | 11.82% | 7.62% |