InCred Financial Services Limited NCD Company Profile:
InCred Financial Services Limited is an RBI-registered non-deposit-taking systemically important NBFC. The Company caters to middle-class to lower middle-class Indian households for their personal finance needs like personal loans and education loans. Correspondingly, it also offers unsecured and secured business loans to small businesses, secured loans to K12 Indian schools for their expansion plans, supply chain financing, lending to profitable microfinance companies and financial Institutions, and escrow-backed lending through its SME vertical. InCred Demerged Undertaking was merged with Pre-demerger KKR to achieve greater economies of scale, operational rationalization and organizational efficiency, wider market reach and customer base, pooling of knowledge and expertise, and to reduce redundant cost.
InCred Financial Services Limited is coming out with a debt offering of Secured Redeemable Non-Convertible Debentures with a face value of ₹ 1000 each, a Base Issue size of ₹ 150 Crore, and an option to retain oversubscription up to ₹ 150 Crore aggregating up to ₹ 300 crores, being the Issue size. The issue opens for subscription on Wednesday, 25th October 2023, and will close on or before Tuesday, 7th November 2023. The allotment is on a first come first serve basis with the minimum application to be made is of 10 NCDs.
InCred Financial Services Limited NCD Details:
| Issue opens: | Wednesday, 25th October 2023 | |||
| Issue closes: | Tuesday, 7th November 2023 | |||
| Allotment: | First Come First Serve Basis | |||
| Face Value: | Rs.1,000 per NCD | |||
| Nature of Instrument: | Secured Redeemable Non-Convertible Debentures | |||
| Minimum Application: | 10 NCDs (Rs.10,000) & in multiple of 1NCD | |||
| Listing: | BSE and NSE | |||
| Credit Rating | “CRISIL A+/Stable” | |||
| Base Issue Size | ₹ 150 Crore | |||
| Option to Retain Oversubscription | ₹ 150 Crore | |||
| Issue Size | ₹ 300 Crore | |||
| Put/Call Option | N.A. | |||
| Trustee | Catalyst Trusteeship Limited | |||
| Registrar | Link Intime India Private Limited | |||
| Depositories | NSDL and CDSL | |||
| Category | I – Institutional (“QIB”) | II – Non-Institutional (“Corporates”) | III – High Net worth
Individual (“HNI”) (Amount aggregating to above ₹ 10 lakh) |
IV – Retail Individual (“Retail”) (Amount aggregating up to and including ₹ 10 lakh) |
| Category Allocation of the overall Issue Size | 5% | 10% | 40% | 45% |
| Bucket Size (₹) assuming Issue size of ₹ 300 Cr₹ | ₹ 15 Cr | ₹ 30 Cr | ₹ 120 Cr | ₹ 135 Cr |
InCred Financial Services Limited NCD
Application form
InCred Financial Services Limited NCD Specific Terms of the Prospectus:
The terms of the NCDs offered under the Issue are as follows:
| Series | I | II | III | IV | V* |
| Frequency of Interest Payment | Monthly | Quarterly | Monthly | Annual | Monthly |
| Tenor | 18 Months | 24 Months | 24 Months | 36 Months | 36 Months |
| Base Coupon Rate (% p.a.) for NCD Holders in: | |||||
| Category I, II, III & IV | 9.48% | 9.55% | 9.66% | 10.30% | 9.84% |
| Effective Yield (% p.a.) for : | |||||
| Category I, II, III & IV | 9.88% | 9.88% | 10.08% | 10.28% | 10.29% |
| Amount (₹ / NCD) on Maturity for : | |||||
| Category I, II, III & IV | ₹ 1,000/- | Staggered Redemption in eight (8) quarterly payments of ₹ 125 each, starting from 1st quarter until maturity | ₹ 1,000/- | Staggered Redemption in Three (3) annual payments of ₹ 333 for year 1, ₹ 333 for year 2 and ₹ 334 for year 3 starting from 1st anniversary until Maturity | ₹ 1,000/- |
| Maturity/Redemption Date (from the Deemed Date of Allotment) | 18 Months | 24 Months (Staggered Redemption as per “ #Principal Redemption Scheduleand Redemption Amounts for Series II and SeriesIV NCDs”)# | 24 Months | 36 Months (Staggered Redemption as Per “Principal Redemption Schedule and Redemption Amounts for SeriesII and Series IV NCDs”)# | 36 Months |
*- Company shall allocate and allot Series V NCDs wherein the Applicants have not indicated the choice of the relevant NCD Series.
For any queries related to the NCD, you can consult the team at Elite Wealth. Since Demat is mandatory for investing in this particular NCD, the investor must open a Demat account with a trusted broker like Elite Wealth.
Registrar to the Issue:
LINK INTIME INDIA PRIVATE LIMITED
C- 101, 247 Park, LBS Marg, Vikhroli (West)
Mumbai – 400 083, Maharashtra, India
Tel: +91 810 811 4949
Fax: +91 22 4918 6060
Email: incred.ncd2@linkintime.co.in
Investor Grievance Email: incred.ncd2@linkintime.co.in
Contact Person: Shanti Gopalkrishnan
Website: www.linkintime.co.in