India, May 7 -- InCred Holdings, the parent entity of NBFC major InCred Financial Services, has filed its updated draft red herring prospectus (UDRHP-I) with SEBI. The company's public issue will comprise a fresh issue of shares worth up to Rs.1,250 Cr and an offer for sale (OFS) of up to 9.9 Cr equity shares.

The company plans to utilise the proceeds primarily to strengthen the capital base of its wholly owned subsidiary InCred Finance and support onward lending operations.

KKR, MEMG Family Office, Moore Strategic Ventures are among the investors who plan to offload shares via the OFS.

InCred Holdings filed its IPO papers confidentially in November last year. In February, it received SEBI's approval to proceed with the IPO.

(The stor...