IPO Bound InCred Secures ₹250 Crore Investment from Kamath Brothers

Nikhil and Nithin Kamath have made a strategic investment in InCred Holdings Limited, the parent company of InCred Financial, which is preparing for its upcoming initial public offering (IPO). The move underscores growing investor confidence in the digital lending and wealth management space, with InCred rapidly expanding its operations and digital capabilities.

Kamath Brothers Invest ₹250 Crore in InCred Holdings

The Kamath brothers have acquired a minority stake in InCred through a ₹250-crore share purchase, the company said in a statement issued on June 23. Commenting on the investment, Nikhil Kamath stated, “India's credit ecosystem is changing fast, more formal, more digital, and more accessible. 

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.”

This investment follows the recent acquisition of South Asian Stocks Limited (SASL) by InCred Money, the retail wealthtech division of the group. SASL operates the discount broking platform Stocko.

IPO Plans and Strategic Growth Across Lending and Investment Verticals

Founded in 2016 by Bhupinder Singh, InCred Group operates across 3 primary business arms: InCred Finance (NBFC lending), InCred Capital (institutional, asset, and wealth management), and InCred Money (retail investment distribution). The company’s operational revenue grew 48% year-on-year to ₹1,267 crore, while profit after tax stood at ₹316 crore.

InCred Finance became a unicorn in 2023 following a $60 million fundraising round from investors including Ranjan Pai of MEMG, RP Group chairman Ravi Pillai, and Ram Nayak of Deutsche Bank. That same year, it acquired the gold loan business of TruCap Finance via a slump sale to enhance its secured lending portfolio.

In 2022, the company also merged with KKR India Financial Services, combining to operate under the InCred Finance brand. With a current loan book exceeding ₹10,000 crore, InCred now plans to raise ₹4,000 crore to ₹5,000 crore via IPO, targeting a valuation of ₹15,000 crore to ₹22,500 crore, according to news reports.

Read More: Upcoming IPOs: HDB Financial, Kalpataru, Ace Alpha Tech and More to Hit the Market!

Conclusion

The investment by the Kamath brothers, coupled with InCred’s expansion into new financial segments and its upcoming IPO, highlights the company’s rising prominence in India’s fintech and NBFC space. Backed by strong leadership, solid growth figures, and recent strategic acquisitions, InCred appears poised to make a significant mark on the evolving credit and investment ecosystem.

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