InCred Holdings Ltd, a financial services company, has taken a significant step towards its initial public offering (IPO) by filing the Updated Draft Red Herring Prospectus-I with the Securities and Exchange Board of India (SEBI). The IPO aims to raise up to ₹1,250 crores through a combination of new equity shares and an offer for sale (OFS) of up to 99,020,833 shares from various stakeholders, including KKR India Financial Investments Pte. Ltd. and others. The funds raised will primarily be directed towards enhancing the capital base of its wholly owned subsidiary, InCred Finance, which focuses on improving its Tier-I capital and facilitating further lending. As of 31 March 2025, InCred Finance reported a total assets under management (AUM) of ₹12,585.07 crores and a profit after tax (PAT) of ₹373.15 crores, demonstrating a robust growth trajectory with a compound annual growth rate (CAGR) of 44.04% in AUM and 84.97% in PAT between FY23 and FY25. This positions InCred as one of the fastest-growing diversified non-banking financial companies (NBFCs) in India.