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InCred set to buy Stocko for Rs 300 Cr

EntrackrEntrackr ยท 28d ago
InCred set to buy Stocko for Rs 300 Cr
Medial

InCred set to buy Stocko for Rs 300 Cr Lending and wealth service provider InCred Money is set to acquire trading platform Stocko for Rs 300 crore ($35 million). As per the ET report, Stocko will be renamed InCred Stocko after the process is completed. However, the deal is not yet approved by regulators. Stocko offers trading in stocks, options, commodities, and currencies, with a daily turnover of Rs 1 lakh crore. The companyโ€™s team, led by Shrey Jain, will continue after the merger. InCred plans to integrate Stocko with its current services. The deal marks InCredโ€™s entry into the retail brokerage space. InCred Money is part of InCred Group, which also runs lending and wealth services. The Bhupinder Singh-led Incred achieved unicorn status after raising $60 million in a Series D round from new and existing investors in December 2023. A Mint report suggested that InCred aims to raise Rs 4,000-5,000 crore ($471-588 million) through its IPO, at a valuation ranging between Rs 15,000 crore and Rs 22,500 crore, a price of Rs 225 to 325 a share. The company is reportedly targeting a listing in the last quarter of 2025. The InCred Group operates three entities: InCred Finance, InCred Capital, and InCred Money. In FY24, the groupโ€™s revenue from operations grew by 48% to Rs 1,267 crore. It also reported a profit after tax (PAT) of Rs 316 crore in the last fiscal year.

Exclusive: InCred Capital to raise $50 Mn led by family offices

EntrackrEntrackr ยท 9m ago
Exclusive: InCred Capital to raise $50 Mn led by family offices
Medial

InCred Capital, the wealth and institutional arm of the InCred Group, is in advanced discussions to raise $50 million, according to two sources familiar with the details of the deal. โ€œThe new funding round is driven by the companyโ€™s strong performance in the first half of FY25, with an average revenue run rate of Rs 800 crore and a profit before tax of around Rs 200 crore,โ€ said one of the sources, who requested anonymity as talks are private. As a full-stack financial services platform, InCred Capital integrates wealth management, asset management, M&A, capital markets, equity research and broking, as well as equity derivatives. InCred Capitalโ€™s investment banking division has been in the news recently for several notable transactions, including capital raises for Oyo, E2E, Ugro, and Indiabulls. The platform has amassed over $5 billion in AUM, spanning family offices, high net worth individuals, corporate treasuries, and institutional clients. Lead investors in InCred Capitalโ€™s new round include Ranjan Pai, through the Manipal family office, the Motherson Sumi family office, MMG family office, as well as the founder Bhupinder Singh himself, according to another source who also spoke on the condition of anonymity. โ€œThe companyโ€™s valuation is expected to range between $550 million and $600 million,โ€ said the above-mentioned source. Entrackrโ€™s queries to InCred on Friday remained unanswered at the time of publication, while inquiries to the aforementioned investor did not receive immediate responses. InCred Groupโ€™s lending arm, InCred Finance, was one of two companies to achieve unicorn status in 2023, raising $60 million in a Series D round led by Ranjan Pai of MEMG and others. Entrackr had exclusively reported on the firmโ€™s unicorn round, which valued the company at $1.03 billion. In FY24, InCred Financeโ€™s assets under management (AUM) saw a 49% increase, exceeding Rs 9,000 crore across personal, MSME, and educational loans, with overseas education loans experiencing rapid growth. In an interview with Entrackr, InCred Group founder and CEO Bhupinder Singh highlighted the strong demand for studying abroad, fueled by better exposure and overall growth prospects. In 2022, InCred Finance completed a reverse merger with KKR Indiaโ€™s credit arm, acquiring KKRโ€™s corporate loan book. However, the corporate loan book was wound down shortly after, allowing InCred to shift its focus to building a tech-enabled retail and MSME franchise.

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