IBS Intelligence, Oct 4, 2019
India’s InCred Financial Services said on Friday that its debut Market Linked Debenture (MLD) issuance was fully subscribed. The issue is part of InCred’s ongoing 1 billion-rupee ($14.1 million) MLD programme, arranged in partnership with Sanctum Wealth Management.
The issue was fully subscribed despite the “tough market backdrop”, and it highlights the appetite in the investor community for Consumer and MSME-focused small ticket lending models. The fundraising gives investors access to a higher-yielding asset class, and it provides InCred with an alternative source of funding to the traditional Bank and Capital Markets channels, the Mumbai-based firm said in a statement. “We are very pleased with the issuance of our debut MLD and its over-subscription in this market indicates the confidence that investors have in our diversified business model, our risk management philosophy and practices, our technology infrastructure, and the quality of our talent pool. We were pleased with the arranger services provided by Sanctum and will look to issue additional tranches under our MLD Programme in future,” said InCred CFO Vivek Bansal.
Mumbai-headquartered tech-enabled new age NBFC InCred provides Personal loans, Education Loans, and SME loans that are tailor-made to the unique needs of its customers. InCred, promoted by former Deutsche Bank executive Bhupinder Singh, has previously closed 2 successful rounds of equity raising and has a diversified pool of debt providers across the Indian banking and capital markets ecosystem.
Registered Office: CoWrks, Level 3, Birla Centurion, Century Mill Compound, Pandurang Budhkar Marg, Worli, Mumbai - 400030 Contact number: +91 2261779500 | CIN: U74140MH2015PTC264932
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Registered Office:
CoWrks, Level 3,
Birla Centurion, Century Mill Compound,
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Contact number: +91 2261779500
| CIN: U74999MH2017PTC302008 |
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