High Yield | A+/Stable Rated | Minimum Investment: 10k Only
Bond overview
InCred Financial Services Limited is issuing the Non-Convertible Debentures. These NCDs are A+/Stable rated by CRISIL. The NCDs are being issued in four series: coupon ranges from 9.45% to 10.02% p.a. and different tenures of 27 months, and 39 months. The NCDs are secured and redeemable in nature.
Coupon rates and effective yield for each of the series
Allocation Ratio
The allocation ratio is prepared based on norms laid down by SEBI. Before announcing the allocation ratio, the same has to be approved by SEBI. Once the IPO subscription closes, applications will be divided into different categories. The category-wise allocation ratio is always decided and declared during the launch of the particular IPO. Considering the Allocation Ratio, units will be assigned to applicants. Refer to the chart to know the application ratio for InCred Financial Services Limited NCD-IPO.
Investment Process for InCred Financial Services Limited NCD IPO
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If the investment amount is less than & up to 10 lakhs, retail investors can apply for an IPO online.
If the investment amount is more than 10 Lakhs.
Financial Overview
Snapshot stating the Revenue, Expenses, PAT (In crores)
Cash flow for last 5 years (In crores)
Cash flow refers to the movement of cash in and out of the business at a specific point in time. It represents the net balance of the cash movement.
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- *Cash flow from operating activities reflects the amount a company generates through its product of services.
- **Cash flow from investing activities reflects cash generated and spent relating to investing activities, like purchase of assets, sales of securities etc.
- ***Cash flow from financing activities gives an insight into the financial stability of a company to its investors. It reflects the net flows of cash that are used to fund the company.
Ratio Analysis
Issue analysis
Pros
- The NCD is A+ rated security with a stable outlook.
- The yield offered is 10.02% which is much higher than FDs.
Cons
- Decreasing Cash flows every year
To get better returns than Bank FDs, invest in NCD-IPOs online.
About InCred Financial Services Limited
InCred Financial Services Ltd., which was originally incorporated in February 1995 as Multiflow Financial Services Pvt. Ltd. Previously known as KKR India Financial Services Ltd. began operations in February 2017 and has its headquarters in Mumbai, India.
Strengths
- With a net worth of Rs 2,260 crore and a low gearing of 1.5 times as of June 30, 2022, InCred is well-capitalized. This is a huge increase from the net worth of Rs 595 crore as of March 31, 2019.
- Senior management and knowledgeable promoters support InCred.
- As of June 30, 2022, InCred has a diversified loan portfolio worth Rs 4,676 crore, representing a quarterly growth of 23%. (non-annualised).
Weakness
- Due to the infancy of the company’s activities, operating costs at InCred have been high despite improvement, which has influenced the company’s earnings profile.
- Limited seasoning and a moderately scaled business
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