InCred Capital Financial Services Pvt Ltd
InCred Group's wealth, asset-management, broking and investment-banking arm — a separate company from the NBFC InCred Holdings — with revenue in the ₹500–1,000 Cr band.
Market cap
₹188.34 Cr
1.26 Cr shares
P/E ratio
3.36
Sector average 25
Book value
₹191.96
P/B 0.78
1-year return
+0.00%
52w ₹149 – ₹149
Currently 0% of the way through its 52-week range.
Indicative price history
1Y change
+0.00% ₹149 → ₹149
52-week band in this window: ₹149.00 – ₹149.00. Weekly indicative marks, not exchange-traded prices.
Key highlights
- Wealth, AMC, broking and investment-banking arm of the InCred Group; 51% owner of InCred Money.
- FY25 revenue in the ₹500–1,000 Cr band with growth near 57%.
- No Altius quote on 21 September 2026; ₹149 reference from another dealer.
About InCred Capital
InCred Capital Financial Services Private Limited is the wealth and capital-markets arm of Bhupinder Singh's InCred Group. Established in its current form in 2018 on a 1996-vintage Mumbai company, it houses wealth management for HNIs and family offices, InCred Asset Management (PMS and AIFs), institutional equities and research, investment banking, a wholesale-debt desk and retail broking. It also holds 51% of InCred Money, the retail bonds and alternatives platform.
The company is distinct from InCred Holdings / InCred Financial Services, the lending NBFC that reported ₹374 Cr of FY25 profit and is itself an IPO candidate; the two share a brand and a founder but not a balance sheet. InCred Capital's FY25 revenue was in the ₹500–1,000 Cr range with a one-year revenue growth rate near 57% as fee businesses scaled.
Altius Investech lists the stock but showed no buy or sell price on 21 September 2026; the ₹149 used here is the latest indicative quote from another dealer (unlistedsharesindia.com) and should be confirmed before any trade. Registry data shows paid-up capital of about ₹12.64 Cr, but the group has raised capital through preference shares and the effective equity count needs verification.
Figures preliminary; verify from MCA filings. Revenue is placed within the reported band; profit, balance-sheet lines and share count are estimates. Some registries list the company as 'InCred Capital Financial Services Limited', suggesting a conversion to a public company that should be confirmed.
Where the revenue comes from
- Wealth management and asset management45%
Advisory fees, distribution income, PMS and AIF management fees (estimate of mix)
- Institutional equities and retail broking30%
Brokerage and research (estimate of mix)
- Investment banking and wholesale debt25%
ECM/DCM fees and debt-desk trading income (estimate of mix)
Products & services
Wealth management
Advisory and distribution for HNIs, family offices and institutions.
InCred Asset Management
PMS strategies and category II/III AIFs.
Institutional equities and investment banking
Research-led broking, ECM and DCM advisory.
InCred Money (51%)
Retail platform for bonds, fixed deposits and alternative products.
What works
- • Fee-based businesses (wealth, AMC, broking, investment banking) need little balance-sheet capital and scale with market activity.
- • Cross-sell into the InCred Group's lending customers and the InCred Money retail platform.
- • Founder Bhupinder Singh's investment-banking background and a senior team drawn from Deutsche Bank, Avendus and others.
What to watch
- • No dealer quote on Altius; liquidity is thin and the ₹149 reference price is from a single source.
- • Brand confusion with InCred Holdings, whose IPO and profits do not accrue to this company.
- • Revenue is tied to capital-market cycles; broking and IPO income fall sharply in downturns.
- • Limited disclosure as a private company; the equity share count and preference-capital overhang are not public.
Compare with peers
| Company | Price | Market cap | P/E | P/B | Rev CAGR |
|---|---|---|---|---|---|
| InCred CapitalThis page | ₹149.00 | ₹188.34 Cr | 3.36 | 0.78 | +47.20% |
| InCred | ₹150.00 | ₹9,713 Cr | 26.04 | 2.22 | +45.91% |
| ASK | ₹874.00 | ₹5,681 Cr | 21.85 | 4.73 | +22.47% |
| Abans IM | ₹1,548.00 | ₹248.3 Cr | — | 12.76 | +15.42% |
Latest reported year: FY25 ending 31 Mar 2025.