Mutual Funds Commodities Research Tax Planning IPO Our Team Contact Us  
Google
Web www.equitybulls.com
Industry News

| More

InCred Financial Services Ltd announces Public Issue of up to ? 300 crore of Secured NCDs

Posted On: 2023-10-14 23:35:30 (Time Zone: IST)


InCred Financial Services Limited (formerly known as KKR India Financial Services Limited), a non-deposit taking systemically important NBFC registered with RBI, has filed its prospectus dated October 11, 2023 for public issue of secured, rated, listed, redeemable, non-convertible debentures of the face value of ? 1,000 each.

The Issue opens on Wednesday, October 25, 2023, and closes on Tuesday, November 7, 2023 with an option of early closure or extension as may be decided by the Board of Directors or Finance Committee of the Company in compliance with Securities and Exchange Board of India Issue and listing of (Non-Convertible Securities) Regulations 2021, as amended ("SEBI NCS Regulations"). The NCDs have been rated CRISIL A+/Stable (pronounced as CRISIL A plus rating with Stable outlook) by CRISIL Ratings Limited.

Mr. Bhupinder Singh, Whole Time Director and Chief Executive Officer, of InCred Financial Services Limited said, "We have established ourselves as a diversified lending NBFC with a business model rooted in cutting edge tech and analytics and focussed on risk metrics reflected in the strength of our asset quality. This is a consequence of a tried and tested approach to credit risk and collections. We continuously leverage technology and data-science to make lending quick, simple and hassle-free. A key component of our growth so far has been the success of our liabilities strategy, and this public issuance of NCDs will play a role in further diversifying and strengthening our borrowing mix."

The minimum application size would be ? 10,000 (i.e. 10 NCDs) and thereafter in multiples of ? 1,000 (i.e. 1 NCD) thereof. This issue has maturity / tenure options of 18 months, 24 months and 36 months for NCDs with monthly, quarterly and an annual coupon payment being offered across series I, II, III, IV and V. Effective yield for NCD holders in various categories ranges from 9.88% to 10.29% per annum.

Out of the net proceeds of the Issue, at least 75% of the net proceeds shall be utilised for the purpose of onward lending, financing and for repayment of interest and principal of existing borrowings of the Company) and a maximum up to 25% of the net proceeds may be utilised for general corporate purposes.

For the fiscal year 2023, the company's consolidated total revenue from operations stood at ? 864.58 crore and consolidated net profit before tax for the fiscal year 2023 was ? 203.17 crore.

For the three months ending June 2023, total revenue from operations stood at ? 266.94 crore and profit before tax for the period stood at ? 83.00 crore.


Click here to send ur comments or to feedback@equitybulls.com





Other Headlines:

DSP Asset Managers opens subsidiary company office at GIFT City

H&M inaugurates its new store at Phoenix Mall of The Millennium; unveils state-of-the-art Home concept

Cinépolis launches new Multiplex facility at the LULU Mall in Hyderabad

Samsung Innovation Campus Upskills 3,000 Less-Privileged Students Across India in AI, IoT, Big Data and Coding & Programming

IBM Consulting opens new Client Innovation Center in Gandhinagar

87 percent Indians Choose Petrol-Powered Cars this Festive Season: CARS24 Report

SIDBI joins hands with TDB to support MSMEs

PropShare Capital launches second fund PREF II, Plans to Raise Rs. 500 Cr.

SIDBI and IPPB enter into MoU for development of informal micro enterprises

Tata Capital Healthcare Fund II invests upto $10 million in Apex Kidney Care

NABARD Successfully Lists First of Its Social Bonds with A Size of Rs 1040 Crores on BSE

DHL Express announces average rate increase of 6.9% will be effective as of January 1, 2024

Grand Mercure Agra Fatehabad Road, in the historic city of Agra, opens its doors

NABARD Issues India's First AAA Rated INR Social Bonds Worth Rs 1,040 Crore

KGiSL unveils Dolphin 2.0 to empower brokers to handle real-time settlement

Cinépolis India bags two Prestigious Awards at MAPIC India 2023

Verizon India in association with Adyar Cancer Institute inaugurates Linear Accelerator radiotherapy equipment for cancer patients

Volvo and Danfoss introduce e-truck fleet

Cashfree Payments partners with Shopify to launch onsite payments for Indian merchants

Triton EV to launch 3.5T EV Pickup Trucks for Indian and Middle East Market

Bring Home a Cinematic Experience with Portronics Beem 420 Multimedia Projector

Leading Corporate Travel Platform myBiz by MakeMyTrip partners with Darwinbox

WiseX and Integrow Asset Management launch India's first Real Estate PMS

Cashfree Payments launches one-step UPI payment solution for mobile-first businesses

Blue Planet Asia empties the largest landfill in India

Cashfree Payments partners with NPCI to launch 'AutoPay on QR' for subscription-based businesses

Lectrix EV sparks a revolution with 12,000 bookings of the new e-scooters LXS G 2.0 and LXS G 3.0

Pramerica Life Insurance launches a new age ULIP solution tailored for new generation's financial ambitions

G20 Sidelines: Saudi Arabia displays Vision 2030, hosts 'Media Oasis' in Delhi

Danfoss continues its India Business Footprint Expansion with New Distribution Center Inauguration

NABARD celebrates ideas for a sustainable agri-landscape with National AgriFunds Hackathon 2023

Air India Express unveils vision and differentiators, charting the path ahead in the run up to its brand launch

Keppel and DBS Bank sign MOU to scale up sustainable urban development and digitalisation solutions in Asia

Grip Secures SEBI's Online Bond Platform Provider Licence from NSE

Chavda Infra continues to capitalise upon TRI-City presence, wins prestigious orders worth Rs 165 crore

Vivriti Capital Limited NCD Issue opens Tomorrow, Friday, August 18, 2023

ESAF Small Finance Bank records a net profit of Rs. 129.96 crores in the first quarter of FY 23-24

Vivriti Capital Ltd Q1 FY2024 PAT higher at Rs. 51.86 crores

Essar Oil & Gas Exploration & Production achieves highest fiscal revenue

2.5 million cars: Renault Nissan Automotive India crosses momentous manufacturing milestone

Essar Oil UK to expand fuel distribution into South East following agreement with Oikos Storage

Expenses on IPOs be given input credit in GST, ASSOCHAM says ahead of GST Council meet

Drone Manufacturer InsideFPV raises 2.75 Crores in a Seed Round led by Inflection Point Ventures

Education Financing startup Propelld gets NBFC license from RBI

Anand Rathi Advisors acts as exclusive financial advisor to Green Gold Animation

DBS Bank India appoints Rajat Verma as Managing Director and Head of Institutional Banking

Cashfree Payments launches CVV-free card payments on all major card networks for businesses

Cinepolis India Introduces Three New Flavours of Summer Cooler Beverages

NSE signs MoU with Government of Maharashtra and Moneybee Institute

MakeMyTrip launches industry-first, bundled offering for Indian Students traveling abroad


Website Created & Maintained by : Chennai Scripts
West Mambalam, Chennai - 600 033,
Tamil Nadu, India

disclaimer copyright © 2005 - 2020