Upcoming InCred IPO: Private equity firm KKR-backed InCred Financial Services Limited (InCred Holdings) is coming with its IPO. On Thursday, February 5, the company has received approval from market regulator Securities and Exchange Board of India (SEBI) to raise funds through this Initial Public Offering (IPO).
Earlier, quoting people associated with the matter, PTI had reported in its report on November 9, 2025 that financial services platform Incred had submitted the draft red herring prospectus (DHRP) with SEBI through the pre-filing route last November. This means that the company can stop disclosing IPO information in the draft papers till the later stages. It also gives an opportunity to withdraw the draft without disclosing necessary information depending on the market conditions.
These companies also got approval to launch IPO
Other companies that have received regulatory approval include Laser Power & Infra, Sedamec Mechatronics, Ardi Industries, Army Infotech, RV Engineering Consultants and Shankaresh Jewellers. These companies had also submitted their draft papers between September and November last year and received observations from SEBI between February 2 and 6.
This approval has come after the entry of three big IPOs like Bharat Coking Coal Limited, Shadowfax Technologies Limited and Amagi Media Labs in the Indian primary market in early 2026.
The size of Incred Holding’s IPO is likely to be between Rs 3,000-4,000 crore. Along with new shares, the IPO will also include offer for sale.
What does the company do?
InCred NBFC is a subsidiary of InCred Financial Services. IIFL Capital Services is the book-running lead manager for the offer. In the year 2016, Bhupinder Singh started Incred Group. Its investors include big names like Abu Dhabi Investment Authority, TRS (Teacher Retirement System of Texas), KKR, Oakes, Elevar Equity and Moore Venture Partners. The company runs its operations through its three verticals – InCred Finance, InCred Capital and InCred Money. In 2022, Incred Finance was merged with KKR India Financial Services.
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