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InCred set to buy Stocko for Rs 300 Cr

EntrackrEntrackr ยท 9m 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.

InCred Money secures Rs 250 Cr from marquee investors at $200 Mn valuation

EntrackrEntrackr ยท 6m ago
InCred Money secures Rs 250 Cr from marquee investors at $200 Mn valuation
Medial

InCred Money secures Rs 250 Cr from marquee investors at $200 Mn valuation InCred Money, the wealth and asset management arm of InCred Group, has raised Rs 250 crore ($30M) from investors including Ranjan Pai, Ram Nayak, Mankind Family Office, MMG Family Office, Ravi Pillai Family Office, and Raj Vattikutti Foundation. According to Entrackr sources, the fresh capital values InCred Money at around Rs 1,650 crore (roughly $200 million). Founded by Bhupinder Singh, InCred Group runs three key businesses: InCred Finance (a retail and MSME-focused NBFC), InCred Capital (wealth and asset management, M&A advisory, capital markets, and broking), and InCred Money. The group positions itself as a tech-driven financial services firm leveraging data science and proprietary risk models. InCred Money offers investment options across unlisted shares, fixed deposits, gold, silver, and more. According to the companyโ€™s website, the platform is used by over 1.5 lakh investors. The fresh fundraising comes as InCred Holdings gears up for a public market debut. The parent is preparing for an IPO with a total issue size pegged at $460โ€“560 million, including a Rs 1,500 crore fresh issue and a Rs 300 crore pre-IPO placement. On the financial front, InCred Finance, the groupโ€™s lending arm, recorded a 47% year-on-year jump in revenue to Rs 1,872 crore in FY25, while profits rose 18% to Rs 374 crore. InCred Capital had earlier secured $50 million from family offices to expand its wealth and capital markets operations. With this funding, InCred Money becomes part of the growing wave of wealth management startups getting strong investor interest, as more Indians turn to digital platforms to manage their money.

Mobikwik secures SEBI nod to launch stockbroking operations

EntrackrEntrackr ยท 8m ago
Mobikwik secures SEBI nod to launch stockbroking operations
Medial

Mobikwik secures SEBI nod to launch stockbroking operations Fintech firm Mobikwik has received approval from the Securities and Exchange Board of India (SEBI) to operate as a stockbroker and clearing member through its wholly owned subsidiary, Mobikwik Securities Broking Private Limited (MSBPL). The regulatory clearance, granted under SEBIโ€™s Stock Broker Regulations, 1992, allows the company to buy, sell, and deal in securities on behalf of clients, as well as carry out clearing and settlement of trades. MSBPL may also undertake other exchange-approved activities. Mobikwik had incorporated MSBPL in March 2025, marking its formal entry into the capital markets ecosystem. With this move, the company joins the crowded stock broking space dominated by platforms such as Groww, Zerodha, AngelOne, Upstox, and ICICI Direct. Groww currently leads the sector in terms of active user base, followed by Zerodha and AngelOne. The development signals Mobikwikโ€™s continued push to diversify beyond payments into broader financial services. Soon after launching MSBPL, the company set up a wholly owned NBFC subsidiary, while another subsidiary, Zaakpay, received RBI approval to operate as a payment aggregator.

Exclusive: Incred to raise Rs 1,500 Cr via fresh issue in IPO

EntrackrEntrackr ยท 6m ago
Exclusive: Incred to raise Rs 1,500 Cr via fresh issue in IPO
Medial

**Exclusive: Incred to raise Rs 1,500 Cr via fresh issue in IPO** InCred Holdings is preparing for an IPO with a total issue size pegged at $460-560 million. As part of the offer, the fintech firm is set to raise Rs 1,500 crore (around $172 million) via a fresh issue of shares. According to the internal documents reviewed by Entrackr, the companyโ€™s board will approve a resolution to issue equity shares worth up to Rs 1,500 crore in a fresh issue. The firm is also planning to raise Rs 300 crore through a pre-IPO placement, which will be counted as part of the fresh issue. The documents further indicate that InCred Holdings is in the process of submitting its draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (SEBI). The companyโ€™s shares will be listed on both the BSE and NSE following regulatory approvals. Founded by Bhupinder Singh, InCred operates as a tech-first non-banking financial company (NBFC), focusing on consumer, SME, and education lending. The group claims to leverage proprietary risk analytics, data science, and digital-first operations to serve retail and MSME borrowers across India. The InCred Group operates three entities: InCred Finance, InCred Capital, and InCred Money. InCred Finance has raised over $370 million to date, including $60 million in its Series D round, which also marked its entry into the unicorn club. Meanwhile, InCred Capital, which oversees wealth and asset management, M&A advisory, capital markets, equity research, and broking, secured $50 million in funding, led by a clutch of family offices. On the financial side, InCred Finance has reported a 47% year-on-year increase in its revenue to Rs 1,872 crore in FY25 from Rs 1,270 crore in FY24. At the same time, the profits of the firm grew 18% to Rs 374 crore. Disclaimer: Bareback Media has recently raised funding from a group of investors. Some of the investors may directly or indirectly be involved in a competing business or might be associated with other companies we might write about. This shall, however, not influence our reporting or coverage in any manner whatsoever.

Exclusive: Games24x7 to acquire 24% stake in stock broking app Wiseowlโ€™s TIQS

EntrackrEntrackr ยท 14d ago
Exclusive: Games24x7 to acquire 24% stake in stock broking app Wiseowlโ€™s TIQS
Medial

Online gaming firm Games24x7 is set to acquire a minority stake in stock broking company Wiseowl Securities, the parent entity of Butterfly Broking (TIQS), according to regulatory filings accessed by Entrackr. The board of Games24x7 has passed a special resolution to approve the purchase of a 24% stake in Wiseowl Securities for Rs 9.1 crore, filings sourced from the Registrar of Companies (RoC) show. Games24x7 has also secured board approval to extend a short-term loan of Rs 18 crore to Wiseowl Securities, as per filings. Wiseowl Securities operates a stock broking business and is registered as a mutual fund distributor with Association of Mutual Funds in India and BSE. Through its wholly owned subsidiary, it runs the Butterfly Broking platform, offering access to NSE and BSE. The platform enables trading in equities, derivatives, commodities, and currency. The development comes at a time when several real-money gaming (RMG) companies are exploring new verticals amid a blanket ban. A number of gaming platforms have either restructured operations or diversified into adjacent consumer internet categories. For instance, Dream Sports, the parent company of Dream11, has entered wealth-tech with its Dream Money app. WinZO has experimented with products such as ZO Gold, while Zupee has expanded into content and lifestyle-led verticals beyond its core gaming offerings. Games24x7โ€™s potential investment into Wiseowl Securities reflects a broader pivot among gaming firms toward regulated financial services. As the RMG landscape faces policy headwinds, diversification into capital markets could offer new revenue streams and reduce regulatory risk.

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