InCred Holdings Limited has emerged as one of India’s fastest-growing diversified NBFCs, according to CRISIL, ahead of its proposed initial public offering.
The company has filed its Updated Draft Red Herring Prospectus-I with SEBI for an IPO comprising a fresh issue of up to ₹1,250 crore and an offer for sale of equity shares by existing shareholders.
According to the company, it recorded the fastest profit after tax CAGR among diversified NBFC peers and the second-fastest AUM CAGR between FY23 and FY25.
InCred Finance, the company’s material subsidiary, reported AUM growth at a CAGR of 44.04 per cent and PAT growth at a CAGR of 84.97 per cent during the period.
As of December 31, 2025, the company’s AUM stood at ₹14,447.86 crore. Personal loans formed the largest segment of its portfolio at 55.56 per cent, followed by student loans at 22.15 per cent.
The company said it will use proceeds from the fresh issue primarily to strengthen the capital base of InCred Finance and support future business expansion.
