Upcoming IPO, May 7 -- InCred Holdings Ltd, primarily operating through its material subsidiary InCred Financial Services Ltd, has filed its Updated Draft Red Herring Prospectus-I (UDRHP-I) with the Securities and Exchange Board of India (SEBI), moving a step closer to its proposed initial public offering (IPO).

The offer consists of a new issuance of equity shares totalling up to Rs.1,250 crores, along with an offer for sale (OFS) of up to 99,020,833 equity shares. This OFS involves various shareholders, including KKR India Financial Investments Pte. Ltd., MNI Ventures, MEMG Family Office LLP, and V'Ocean Investments Ltd., among others.

The company intends to use the net proceeds primarily to invest in its wholly owned subsidiary, InCr...