InCred Holdings Limited has filed draft IPO papers with market regulator SEBI as the company looks to expand its technology-driven lending business and strengthen its capital base.
The company operates through InCred Finance, a diversified retail-focused NBFC that offers a paperless lending journey through its digital platform and “InCred” mobile app.
The company said its app had over 4.5 lakh users as of December 31, 2025, while its technology team expanded from 114 professionals in March 2023 to 152 professionals by December 2025.
InCred Finance follows a risk-first lending approach backed by an AI-enabled proprietary technology platform. Gross stage 3 loans stood at 2.28 per cent as of December 31, 2025, while collection efficiency remained at 98.30 per cent.
The lender base is diversified across 51 institutions, including banks, mutual funds, development financial institutions and small finance banks.
The proposed IPO includes a fresh issue worth ₹1,250 crore and an offer for sale by existing shareholders.
