India's InCred Holdings files draft prospectus for IPO

InCred Holdings, the parent of non-banking financial company InCred Financial Services Limited, has filed a draft prospectus with the market regulator for a potential initial public offering, the company said on Sunday.

The Mumbai-headquartered company, which offers personal, student and secured business loans, has disbursed more than 250 billion rupees ($2.84 billion) since its inception in 2016, serving over 400,000 customers through a network of more than 140 branches.

($1 = 87.8950 Indian rupees)