Incred Capital Financial Services Limited
- Unlisted share
- Financial Services
- ISIN INE01WI01014
At a glance
Sales
FY26
₹1,453 Cr
+112%on FY25What the company earned from its customers in the year.
Profit
FY26
₹40.95 Cr
−63.5%on FY25What was left after every cost and tax was paid.
Market valuecalculated
₹7,164 Cr
What the whole company would be worth at GrowFast's indicative price.
Net worth
FY26
₹1,121 Cr
What the owners would have left on paper if every debt was repaid.
From the company's published figures; sources are beside each figure further down the page.
Key details
- Company
- Incred Capital Financial Services Limited
- ISIN
- INE01WI01014
- Sector
- Financial Services
- Type of share
- Unlisted equity share
- Indicative price per share
- ₹4,801.50
- Price last updated
- 12 Oct 2026
- Minimum quantity
- Confirmed by the desk
- How you hold it
- In your own demat account
- Enquiries
- GrowFast desk, on WhatsApp
Indicative prices, illiquid shares. Prices are indicative and can change without notice. Unlisted shares are illiquid: you may not be able to sell when you want to, or at the price shown.
Company
About Incred Capital Financial Services Limited
InCred Capital Financial Services is the Mumbai-based institutional and wealth arm of the InCred group. Directly and through subsidiaries it does investment banking and capital-markets advisory, trades in securities, manages assets and wealth, and sponsors alternative investment funds; after a court-approved scheme that took effect on 1 September 2026 it absorbed InCred Wealth and became a SEBI-registered merchant banker. Its promoter is Bhupinder Singh, who held about 36% of the equity at 31 March 2026.
Written from: incredcapital.com, incredcapital.com
Financials
Ask for the full annual report.
The figures on this page are the headline numbers. The desk can share the latest annual report and anything published since.
Ask for the financials- Sector
- Financial Services
- ISIN
- INE01WI01014
- Year of incorporation
- 1996
- Headquarters
- Mumbai, Maharashtra
- Parent / promoter
- Promoter: Bhupinder Singh (36.38%, including shares held through B Singh Holdings)
- Key people
- Whole-Time Director: Vikram Agarwal; CFO: Prince Kumar Gupta; Company Secretary: Kunal Sharma
- Employees
- 149 people
- Face value per equity share
- ₹10
- Equity shares outstanding
- 1,49,20,571 shares
- CIN
- U67120MH1996PLC355036
- Website
- incredcapital.com
Read from: InCred Capital Financial Services annual report 2025-26, unless another source is shown on a card.
Key data
What the numbers mean
The ratios buyers look at, each said in plain words.
Price to earnings (P/E)calculated
165.5×
At this price you pay ₹165.5 for every ₹1 of profit the company made in the year.
Price to book (P/B)calculated
6.39×
At this price you pay ₹6.39 for every ₹1 of net worth on the company's books.
Profit margincalculated
2.8%
Out of every ₹100 of sales, ₹2.8 was left as profit.
Return on equitycalculated
3.7%
For every ₹100 of the owners' money, the company made ₹3.7 of profit in the year.
Debt to equitycalculated
0.97×
The company has borrowed ₹0.97 for every ₹1 of its owners' money.
- Indicative price
- ₹4,801.50
- Market valuecalculated
- ₹7,164 Cr
- price × shares
- No. of shares
- 1,49,20,571
- EPS
- ₹29.01
- Book value per share
- ₹751.43
- Face value
- ₹10
Figures marked “calculated” are worked out by GrowFast from its indicative price and the company's published figures for FY2025-26. They move with the price, and they are arithmetic, not a valuation.
Figures in ₹ crore
Financials
InCred Capital Financial Services Limited (formerly InCred Capital Financial Services Private Limited). As published in the company's audited reports. GrowFast has not audited them.
Sales, year by year
₹ crore. The darkest bar is the latest year.
FY24 to FY26: ₹331 Cr to ₹1,453 Cr.
Profit, year by year
₹ crore, after tax. A bar below the line is a loss.
FY24 to FY26: ₹-22.13 Cr to ₹40.95 Cr.
| Particulars | FY24 | FY25 | FY26Latest |
|---|---|---|---|
| Revenue from operations | 331.25 | 686.79 | 1,452.83▲112% |
| Other income | 22.51 | 60.89 | 90.42▲48% |
| Total income | 353.76 | 747.68 | 1,543.25▲106% |
| Depreciation, amortization and impairment | 11.44 | 18.74 | 28.09▲50% |
| Finance costs | 71.88 | 98.26 | 102.61▲4% |
| Loss before tax | -18.47 | 150.92 | 80.96▼46% |
| Loss for the year | -22.13 | 112.18 | 40.95▼63% |
| Earnings per share, basic (₹) (₹) | -17.34 | 87.34 | 29.01▼67% |
Rupees crore unless marked, consolidated (as first reported, before the 2026 scheme), consolidated. The change shown is the latest year against the year before. Read from: InCred Capital Financial Services annual report 2024-25, InCred Capital Financial Services annual report 2025-26.
Ownership
Shareholding pattern
Who owns the company
36.4%Bhupinder Singh (promoter)
- Largest holder
- 36.4%
- Top 2 together
- 41.8%
- Holders named
- 2
- Bhupinder Singh (promoter)36.38%
- Paragon Partners Growth Fund-I5.41%
- Total41.79%
Read from: InCred Capital Financial Services annual report 2025-26
Capital history
Fund raise history
| Date and detail | Type | Instrument | Price per share | Amount raised | Source |
|---|---|---|---|---|---|
| FY2024-2510,00,000 new equity shares of ₹10 were issued during the year; the price is not stated in the pages read. | Share issue | Equity shares | Not stated | Not stated | incredcapital.com |
| 10 Feb 2026Shareholders approved on 29 January 2026 an issue of up to 7,09,219 shares at ₹4,230 each (up to ₹300 crore) to identified investors; 7,09,219 shares were allotted on 10 February 2026. | Private placement | Equity shares | ₹4,230 | ₹300 Cr | incredcapital.com |
| 3 Sept 20254,53,962 optionally convertible redeemable preference shares were converted into the same number of equity shares. | Conversion | Equity shares | Not stated | Not stated | incredcapital.com |
Read from: InCred Capital Financial Services annual report 2025-26, InCred Capital EGM notice for 29 January 2026
Leadership
Management
Vikram Agarwal
Whole-Time Director
Prince Kumar Gupta
Chief Financial Officer
Kunal Sharma
Company Secretary
Bhupinder Singh
Non-Executive Director
Gaurav Maheshwari
Non-Executive Director
Siddharth Parekh
Non-Executive Director
Venkatesh Vishwanathan
Non-Executive Director
Ambika Bisla
Independent Director
Read from: InCred Capital Financial Services annual report 2025-26
Corporate calendar
Events
- 30 Sept 2026AGM29th annual general meeting called for 30 September 2026 to adopt the 2025-26 accountsOpen
- 1 Sept 2026MergerComposite scheme took effect: InCred Wealth merged into the company and a merchant banking business was transferred to it (appointed date 1 April 2025)Open
- 21 Aug 2026Regulator approvalMerchant banking licence received from SEBIOpen
- 24 Mar 2026Regulator orderNCLT approved the composite scheme of arrangementOpen
- 29 Jan 2026EGMShareholders approved a private placement of up to 7,09,219 equity shares at ₹4,230 eachOpen
- 28 Nov 2024ConversionCompany became a public limited company and dropped 'Private' from its nameOpen
Reports and filings
Annual reports and results
Each link opens the document where its publisher keeps it.
- FY2025-26Notice of Extraordinary General Meeting, 29 January 2026
- FY2025-26Notice of 29th Annual General Meeting (FY 2025-26)
- FY2025-26Annual Report for the year ended 31 March 2026
- FY2024-25Annual Report for the year ended 31 March 2025
- FY2023-24Annual Report for the year ended 31 March 2024
- FY2022-23Annual Report for the year ended 31 March 2023
Before you buy
Six things to check on any unlisted share.
The same list applies to every stock. None of it is advice on this one.
The company's latest financials
Revenue, profit and debt for the last three years, from its audited annual report. Ask the desk for the most recent set.
What the price implies
Compare the price per share with earnings and book value per share, and with listed companies in the same business.
Whether a listing is planned
A company may file for an IPO, delay it or never list. A listing, its timing and its price are never certain.
How you would sell
There is no exchange for these shares. You sell by finding a buyer, which can take time and may be at a lower price.
Lock-in after a listing
Shares bought before an IPO are usually locked in for a period after the company lists. Confirm the current rule before you buy.
Tax on your gains
Unlisted shares are taxed differently from listed ones. Check your position with a tax adviser.
Questions
What buyers ask about this stock.
Not answered here? Ask the desk.
Inquire about Incred Capital Financial Services Limited on WhatsAppIs the price shown for Incred Capital Financial Services Limited final?
No. It is an indicative price per share. The desk confirms the price and the quantity available when you inquire, and the confirmed price is the one you deal at.
How do I buy these shares?
Press Inquire. It opens a WhatsApp chat with the desk, with this stock already named. After the price and quantity are agreed, a 10% advance locks the deal. Once your KYC is complete you pay the balance, and the shares are transferred to your demat account.
Do I pay anything on this website?
No. No payment is taken and no order is placed on this site. Payment details are shared by the desk only after the deal is agreed.
What do I need before I can buy?
A demat account in your name and the documents for KYC: your identity and demat account details are verified before any deal, as the regulations require.
Can I sell my Incred Capital Financial Services Limited shares to GrowFast?
GrowFast buys as well as sells. Press Inquire and tell the desk how many shares you hold; it will come back with what it can offer.
How do I sell Incred Capital Financial Services Limited shares I already hold?
Tell the desk how many you hold. If a price is agreed, you transfer the shares from your demat account with a delivery instruction to your depository participant (a DIS, or its online equivalent), and payment follows as agreed with the desk.
Is there a lock-in if the company lists?
Shares held before an IPO are generally locked in for a period after the listing under SEBI's rules, which have changed over time. Ask the desk for the rule that applies today before you buy.
Is buying unlisted shares legal in India?
Yes. Shares of an unlisted company can be bought and sold privately and are transferred between demat accounts. They are not traded on a stock exchange, so the protections of an exchange do not apply.
What is the minimum I can buy?
It differs by stock and by what the desk holds at the time. The desk confirms the minimum quantity when you inquire.
What is an ISIN?
The 12-character code that identifies a security. It is how your depository knows exactly which share is being transferred to your demat account.
Why are unlisted shares riskier than listed ones?
Prices are indicative and can change without notice. Unlisted shares are illiquid: you may not be able to sell when you want to, or at the price shown.
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Risk disclosure
Prices on this site are indicative, quoted per share, and are not an offer to buy or sell. The price and quantity for any deal are confirmed by GrowFast's desk at the time you deal.
Unlisted, pre-IPO and delisted shares are not traded on a stock exchange. They are illiquid, their prices can move sharply, and you may be unable to sell them when you wish or at all. A company that is expected to list may not do so.
Nothing on this site is investment advice or a promise of returns. Past prices do not predict future prices. Consider your own circumstances, and take independent advice, before you invest.
Inquire opens a WhatsApp chat with GrowFast. No payment is taken and no order is placed on this site.
GrowFast is not affiliated with, sponsored by or endorsed by Incred Capital Financial Services Limited. Its name and logo belong to their owner and are shown only to identify the company. Figures about it come from published sources and have not been audited by GrowFast. See the Terms and Conditions.