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InCred set to buy Stocko for Rs 300 Cr

EntrackrEntrackr · 1m 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.

Zepto nears Rs 1,500 Cr structured debt deal ahead of IPO

EntrackrEntrackr · 3m ago
Zepto nears Rs 1,500 Cr structured debt deal ahead of IPO
Medial

Zepto nears Rs 1,500 Cr structured debt deal ahead of IPO: Report Quick commerce platform Zepto is reportedly finalising a Rs 1,500 crore ($175 million) structured debt deal with Edelweiss Alternative Asset and other investors. According to an ET report, the funds will be used to buy back shares from foreign investors, increasing Indian ownership ahead of Zepto’s planned IPO. Zepto is expected to file its IPO draft papers in mid-2025. The company has already secured approvals to shift its base from Singapore to India. Edelweiss is expected to underwrite about half of the loan, while other domestic family offices and credit funds are expected to contribute the remaining Rs 750 crore. The deal will value Zepto at around $5 billion, matching its last equity fundraising round when it raised $350 million, led by Motilal Oswal Private Wealth, in November last year. The report added that founders Aadit Palicha and Kaivalya Vohra’s stake will rise from 18% to around 20%, while overall domestic shareholding could exceed 30%, aligning with Indian foreign direct investment rules. Zepto is also close to completing a $250 million secondary share sale involving private equity firms like Motilal Oswal. In a recent development, Palicha disclosed that the Mumbai-based firm is also close to hitting an annualized Gross Order Value (GOV) of $4 billion.

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