Debt financing
InCred Finance raises Rs.400-Cr from Morgan Stanley, Nippon Life, others
Mumbai-headquartered InCred Group’s lending arm, InCred Finance , has raised a debt funding of INR 400 crore (around USD 46.8 million) from Morgan Stanley (INR 300 crore), Nippon Life India (INR 50 crore), among others. Besides, it bagged an equity funding of INR 40 crore from its parent InCred Holdings Ltd.InCred Finance allotted 40,000 non-convertible debentures (NCDs) for INR 1 lakh apiece to raise the sum. The lending arm can raise a debt of up to INR 4,500 crore.The capital infusion comes as InCred Finance prepares for an IPO to raise INR 4,000-5,000 crore, expected later this year.InCred Finance offers educational, personal, business and merchant loans.
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