Company Presentation
InCred Holdings Limited is a diversified financial services group that offers retail lending, education loans, personal loans, digital loans, and wealth management. The company was incorporated in 2011, with headquarters in Mumbai, Maharashtra. It is primarily operated through its NBFC arm, InCred Financial Services and is backed by investors such as KKR and Investcorp. Key verticals include Consumer Lending, MSME Loans, Education Finance, and Wealth Tech. Its subsidiaries are InCred Financial Services (NBFC), InCred Capital, and InCred Equities. Bhupinder Singh, ex-Deutsche Bank Co-Head of Investment Banking Asia, founded the company.
Investment Rationale: The investment rationale highlights a diversified lending model with exposure to retail, MSME, and student loan segments. The company also possesses a strong promoter pedigree, a high-quality investor base, and digital-first operations using tech-driven underwriting and servicing platforms. InCred is actively preparing for a potential public listing in FY26.
Financials:
Valuation Metrics: The last deal price was ₹162/share as of May 5, 2025, giving it an implied market cap of ₹10,397 Cr. The estimated P/E Ratio (FY24) is ~33.68x, and the P/B Ratio is ~3.06x. The Book Value is 52.92.
Shareholding Pattern: The shareholding pattern shows that 44.35% is held by "Others," 29.49% by KKR India Financial Investments Pte. Ltd, 17.06% by B Singh Holdings, and 9.10% by MNI Ventures.
Key Risks: Potential risks include credit quality sensitivity due to exposure to unsecured loans, competition from other fintech-NBFC hybrids and traditional banks, and regulatory risks related to RBI norms on NBFCs and digital lending.
IPO Timeline & Exit Options: The expected IPO is in FY25-FY26. Other exit routes are unlisted share transfers and pre-IPO deals. The company raised ₹500+ Cr in late 2023 at an estimated $1 Billion valuation.
UnlistedZone View: InCred Holdings is seen as a major player in India's fintech ecosystem with potential for a compelling pre-IPO opportunity. UnlistedZone gives the company a rating of "Accumulate" with a 3-4 year horizon and has a target valuation post-IPO of ₹8,000-10,000 Cr.
Access essential information and documents to make informed investment decisions
Stay updated with upcoming events, conferences, and announcements
Access quarterly and half-yearly financial statements and reports
Download comprehensive annual reports and financial summaries
Access investor presentations, corporate briefings, and slideshows
Our blog provides insightful information about unlisted shares, offering a deeper understanding of how these assets work, their potential benefits, and the risks involved. Whether you're new to unlisted shares or looking to expand your knowledge, we cover topics such as investment strategies, valuation methods, market trends, and regulatory aspects. Stay updated with expert tips and guides to navigate the unlisted share market effectively.
Unlisted shares are stocks of companies that are not listed on any stock exchange, meaning they are not publicly traded. These shares are typically available for trade in the private market through brokers, and can offer unique investment opportunities.
You can buy unlisted shares through a broker or platform that specializes in unlisted share transactions. We provide a secure and easy way to purchase unlisted shares from top companies, ensuring a smooth transaction process.
The share prices of unlisted companies can fluctuate based on various factors like market demand, company performance, and private transactions. You can check the latest share prices for unlisted companies on our website for real-time updates.
Unlisted shares can offer higher growth potential, as they are typically not subject to the same market volatility as listed shares. However, they come with higher risk due to limited liquidity and availability of information. It's important to research thoroughly and consult experts before investing.
To sell unlisted shares, you can connect with a broker or platform that facilitates the sale of private stocks. We help investors buy and sell unlisted shares with ease, ensuring that your transaction is handled professionally and securely.
Yes, unlisted shares can eventually be listed on a stock exchange through an Initial Public Offering (IPO). This process allows the company to offer its shares publicly and be traded on major exchanges, potentially increasing liquidity and visibility.
Gains from unlisted shares are subject to capital gains tax in India. Short-term capital gains (if held for less than 24 months) are taxed at your applicable income tax rate, while long-term capital gains (if held for more than 24 months) are taxed at 20% with indexation benefits. Always consult a tax advisor for precise tax implications.
The value of unlisted shares is typically determined by private transactions, financial reports, and market demand. We provide the latest updates on share prices of unlisted companies, giving you the most accurate valuation available.
The minimum investment for unlisted shares can vary depending on the company and broker. Generally, the minimum investment is higher than for listed stocks, but we provide detailed information to help you make the best investment decisions.
Yes, unlisted shares may pay dividends if the company has declared them. However, since these companies may be in their growth stage, dividend payments are not always guaranteed. It's important to check the company's financial health before investing.
It's important to conduct thorough research on the company's financials, management, market potential, and overall business model. You can also seek professional advice from experts to help you choose unlisted shares with strong growth prospects.
Gains from unlisted shares are subject to capital gains tax in India. Short-term capital gains (if held for less than 24 months) are taxed at your applicable income tax rate, while long-term capital gains (if held for more than 24 months) are taxed at 20% with indexation benefits. Always consult a tax advisor for precise tax implications.
.png&w=750&q=75)
