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InCred set to buy Stocko for Rs 300 Cr

EntrackrEntrackr · 8m 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 company’s team, led by Shrey Jain, will continue after the merger. InCred plans to integrate Stocko with its current services. The deal marks InCred’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 group’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.

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

EntrackrEntrackr · 5m 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 company’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 $460–560 million, including a Rs 1,500 crore fresh issue and a Rs 300 crore pre-IPO placement. On the financial front, InCred Finance, the group’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.

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

EntrackrEntrackr · 5m 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 company’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 company’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.

InCred Wealth crosses Rs 1 lakh Cr in AUM within 6 years of launch

EntrackrEntrackr · 15d ago
InCred Wealth crosses Rs 1 lakh Cr in AUM within 6 years of launch
Medial

InCred Wealth has grown to over $10 billion, or more than Rs 1 lakh crore, in assets under management. The Mumbai-based firm reached this scale in six years, which market participants attribute to consistent execution and a strong team across leadership and client-facing roles. InCred links its hiring strength to founder Bhupinder Singh’s track record. Singh spent over two decades at Deutsche Bank before founding InCred in 2016. The unicorn status of InCred Finance in 2023 has further added to the group’s credibility with senior professionals and clients. As per the firm, InCred Wealth now has over 700 relationship managers serving family offices, ultra-high-net-worth individuals, and emerging affluent customers. “Beyond conventional advisory, we have expanded access to global and private-market opportunities for our clients, including curated exposure to late-stage private companies, overseas themes, and alternative strategies,” said CEO Nitin Rao in an interaction with Entrackr. Rao has been with InCred Wealth since its inception in 2020. Highlighting InCred Wealth’s approach, Rao said the firm was built “from the ground up” with the aim of bringing global-quality ideas into Indian wealth management. Alongside its domestic business, InCred Wealth has also built an offshore platform, InCred Global Wealth. “We manage more than $3 billion in assets through teams based in Singapore, Dubai, and London,” Rao said.

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