Key Takeaways
- The InCred Financial Services NBFC is launching a ₹300 cr public issue of secured NCDs.
- CRISIL A+/Stable rating underscores the credit quality of the debentures.
- The issue, opened on Oct 25, will close on Nov 7, with possible early closure per SEBI NCS Regulations.
Mumbai: 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 a public issue of secured, rated, listed, redeemable, non-convertible debentures with a face value of 1,000 each.
The issue opens on Wednesday, October 25, 2023 and closes on Tuesday, November 7, 2023, with an option for early closure or extension as decided by the Board.
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”), said release Monday.
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 statement added.
