Zerodha's Nikhil, Nithin Kamath buy Rs 250 crore worth InCred stake ahead of IPO

Zerodha's Kamath brothers --Nithin and Nikhil- picked up a minor stake in InCred Holdings through the purchase of Rs 250 crore worth shares in the holding company of InCred Financial Services Ltd (IFSL).

A recent Bloomberg report citing sources said InCred Financial Services was in talks with potential advisers for an initial public offering to raise about Rs 4,000 crore ($470 million). As per the report, InCred Financial has plans to file documents soon for a share offering in Mumbai that might take place by October.

The fresh move signals continued investor confidence in India’s evolving credit ecosystem—one that is becoming increasingly formal, digital, and data-driven, a press release read.

“India’s credit ecosystem is changing fast—more formal, more digital, and more accessible,” stated Nikhil Kamath, noted investor and entrepreneur. “InCred Group seems to get that. They’ve built a strong team, a technology-first approach, and a clear view of where the market is headed. Backing them is a bet on that broader shift—and the belief that responsible lending can scale without losing sight of fundamentals.”

Founded in 2016 by Bhupinder Singh, InCred Group has emerged as a diversified lending platform, catering to retail and MSME borrowers across India. The company boasts of using deep data science, proprietary risk analytics, and digital-first operations.

InCred Holdings Limited acts as the holding company for InCred Financial Services Ltd. The tech-enabled NBFC is focused on consumer, education, and SME lending.