Incred Financial Services Limited

Nbfc · Financial Services

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Methodology v1.0 Download Report (PDF)
Latest Rating
AA- (CRISIL)
Total Debt Outstanding
₹3,789 Cr
Across 34 instruments
Listed Bonds
34
First Issue
2015-01-27
Latest Issue
2026-06-16
Maturity Range
2026 - 2029
Observation
34 active bonds tracked from this issuer.
View details →
Coverage: High Data Quality: High Sources: NSE, BSE, SEBI, rating agencies
01 Issuer Overview
Sector
Financial Services
Issuer Type
Nbfc
First Tracked Bond
2015-01-27
Start of this issuer's debt program timeline
  • 34 active bonds tracked from this issuer.
  • 32 of 33 tracked bonds with a stated security status are secured. (based on 33 bonds with a disclosed security status)
  • Most recent rating action: other by CRISIL on 2026-08-21.

Operating in the financial services sector, Incred Financial Services Limited is classified as an NBFC. Bond coupons here span 8.60% - 10.95%, paid quarterly. The maturity ladder spans 2026 - 2029.

Data sourced from NSDL, BSE, NSE, and registered credit rating agencies. Verify against the issuer's offer document before transacting.

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02 Debt Profile
Outstanding Bonds
34
Tracked by RetailBonds
Amount Tracked
₹3,789 Cr
Of bonds tracked by RetailBonds — not the issuer's total outstanding debt (disclosed for 30 of 34 bonds)
Avg Coupon
9.48%
Range 8.60% - 10.95%
Avg Remaining Tenure
1.3 Yrs
Nearest maturity 2026-09
Secured
96%
32 of 33 bonds with known status
Callable
0
Of 34 bonds
Avg Spread vs G-Sec
+646 bps
Credit premium (indicative)

Maturity Profile

Active bonds maturing, by year. Bar height relative to the tallest year (12 bonds).

0 2026: 7 bonds, ₹889 Cr tracked, avg coupon 9.69% 7 bonds 2026 2027: 12 bonds, ₹1,435 Cr tracked, avg coupon 9.61% 12 bonds 2027 2028: 10 bonds, ₹1,160 Cr tracked, avg coupon 8.86% 10 bonds 2028 2029: 4 bonds, ₹255 Cr tracked 4 bonds 2029 2042+: 1 bond, ₹50 Cr tracked, avg coupon 10.50% 1 bond 2042+

Security Type / Instrument Mix

  • NCD 34 bonds · 100% · ₹3,789 Cr tracked

Funding Evolution

■ Issued that year — Cumulative outstanding (tracked)
2015: ₹50 Cr issued 2015 2023: ₹144 Cr issued 2023 2024: ₹830 Cr issued 2024 2025: ₹1,550 Cr issued 2025 2026: ₹1,215 Cr issued 2026 Cumulative: ₹50 Cr Cumulative: ₹194 Cr Cumulative: ₹1,024 Cr Cumulative: ₹2,574 Cr Cumulative: ₹3,790 Cr

Based on 30 of 34 active bonds with a known issue date and issue size — the rest are excluded, not assumed zero.

03 Credit Profile
  • AA 27 bonds · 79%
  • A 4 bonds · 12%
  • Unrated 3 bonds · 9%
AgencyRatingOutlookBonds
CRISIL AA- 5
CRISIL AA Stable 4
ICRA AA 4
ICRA AA Stable 4
CRISIL A+ 3
CRISIL AA- Stable 3
ICRA AA- 3
CRISIL AA 2
CARE AA 1
CRISIL A Stable 1
CRISIL AA+ Stable 1
INDIA_RATINGS AA Stable 1

Rating History (Trend)

AAA AA A BBB Below BBB Unrated CRISIL: AA on 2026-06-16 CRISIL: AA on 2026-06-25 CRISIL: AA on 2026-07-03 CRISIL: AA on 2026-07-13 CRISIL: AA on 2026-08-05 CRISIL: AA on 2026-08-06 CRISIL: AA on 2026-08-21
Jun 26 — Aug 26 CRISIL

Recent Rating Actions

2026-08-21 · CRISIL
AA
Other
2026-08-06 · CRISIL
AA
Initial
2026-08-05 · CRISIL
AA
Initial
2026-07-13 · CRISIL
AA
Initial · Stable
2026-07-03 · CRISIL
AA
Initial
2026-06-25 · CRISIL
AA
Other
2026-06-16 · CRISIL
AA
Other
04 Outstanding Bonds View all bonds →
ISIN Bond Name Coupon Rating Maturity YTM Last Trade
INE321N07442 IFSL-9.50%-18-9-26-PVT 9.50% AA (ICRA) 2026-09-18 9.10% 2026-08-27
INE321N07392 NIFTY50 INDEX LINKED SECURED RATED LISTED REDEEMABLE PRINCIPAL PROTECTED NON-CONVERTIBLE DEBENTURES DATE OF MATURITY 12/10/2026. A+ (CRISIL) 2026-10-12
INE321N07459 IFSLD-9.50%-29-10-26-PVT 9.50% AA (ICRA) 2026-10-29
INE321N07376 9.84% SECURED RATED LISTED REDEEMABLE NON CONVERTIBLE DEBENTURES SERIES V DATE OF MATURITY 10/11/2026 9.84% A+ (CRISIL) 2026-11-10
INE321N07368 10.30% SECURED RATED LISTED REDEEMABLE NON CONVERTIBLE DEBENTURES SERIES IV DATE OF MATURITY 10/11/2026 10.30% A+ (CRISIL) 2026-11-10 8.50% 2026-07-06
INE321N07483 IFSL-9.50%-11-12-26-PVT 9.50% AA (ICRA) 2026-12-11 8.75% 2026-08-27
INE321N07491 IFSL-9.50%-31-12-26-PVT 9.50% AA (ICRA) 2026-12-31
INE321N07533 IFSL-9.5%-28-5-27-PVT 9.50% AA (CRISIL) 2027-05-28 8.80% 2026-08-25
INE321N07509 IFSL-9.5%-19-7-27-PVT 9.50% AA (ICRA) 2027-07-19 9.55% 2026-08-14
INE945W07316 IFSL-10.95%-27-7-27-PVT 10.95% A (CRISIL) 2027-07-27
IN8321N07037 NIFTY 50 SECURED RATED LISTED REDEEMABLE PRINCIPAL PROTECTED MARKET LINKED NON CONVERTIBLE DEBENTURE DATE OF MATURITY 29/07/2027 2027-07-29
INE321N07673 NIFTY 50 SECURED RATED LISTED REDEEMABLE PRINCIPAL PROTECTED MARKET LINKED NON CONVERTIBLE DEBENTURE DATE OF MATURITY 29/07/2027 AA- (ICRA) 2027-07-29 29.33% 2026-08-10
INE321N07525 IFSL-9.60%-16-8-27-PVT 9.60% AA (ICRA) 2027-08-16 9.50% 2026-08-27
INE321N07418 NIFTY50 INDEX LINKED SECURED RATED LISTED REDEEMABLE PRINCIPAL PROTECTED - MARKET LINKED NON-CONVERTIBLE DEBENTURE. DATE OF MATURITY 08/11/2027. AA- (CRISIL) 2027-11-08
INE321N07475 IFSL-9.90%-25-11-27-PVT 9.90% AA- (ICRA) 2027-11-25
INE321N07566 IFSL-Near month Future of Gold-30-11-27-PVT AA (CRISIL) 2027-11-30 17.70% 2026-08-05
INE321N07590 IFSL-8.80%-6-12-27-PVT 8.80% AA (CRISIL) 2027-12-06 9.47% 2026-08-10
INE321N07574 IFSL-NIFTY 50 INDEX-08-12-27-PVT AA- (CRISIL) 2027-12-08 25.66% 2026-08-05
INE321N07616 IFSL-9%-24-12-27-PVT 9.00% AA (CRISIL) 2027-12-24
INE321N07608 IFSL-NIFTY-50-INDEX-11-2-28-PVT AA+ (CRISIL) 2028-02-11 21.97% 2026-08-05
INE321N07632 IFSL-8.6%-6-3-28-PVT 8.60% AA (ICRA) 2028-03-06 9.29% 2026-08-27
INE321N07665 8.90% SECURED RATED LISTED REDEEMABLE NON CONVERTIBLE DEBENTURE DATE OF MATURITY 17/03/2028 8.90% AA- (CRISIL) 2028-03-17
INE321N07517 IFSL-NIFTY 50-12-5-28-PVT AA (CRISIL) 2028-05-12 10.13% 2026-08-25
IN8321N07011 NIFTY 50 SECURED RATED LISTED REDEEMABLE PRINCIPAL PROTECTED MARKET LINKED NON CONVERTIBLE DEBENTURE DATE OF MATURITY 30/05/2028 2028-05-30
INE321N07640 NIFTY 50 SECURED RATED LISTED REDEEMABLE PRINCIPAL PROTECTED MARKET LINKED NON CONVERTIBLE DEBENTURE DATE OF MATURITY 30/05/2028 AA- (CRISIL) 2028-05-30
INE321N07699 8.80% SECURED RATED LISTED REDEEMABLE NON CONVERTIBLE DEBENTURE DATE OF MATURITY 12/06/2028 8.80% AA- (CRISIL) 2028-06-12 9.51% 2026-08-27
INE321N07624 IFSL-9%-14-8-28-PVT 9.00% AA (ICRA) 2028-08-14 9.40% 2026-08-20
INE321N07582 IFSL-GOLDFUTURES-13-10-28-PVT AA (CRISIL) 2028-10-13
INE321N07681 9% SECURED RATED LISTED REDEEMABLE NON CONVERTIBLE DEBENTURE DATE OF MATURITY 05/12/2028 9.00% AA- (CRISIL) 2028-12-05 9.41% 2026-08-27
INE321N07541 ICFSL-GOLD-MCX-15-1-29-PVT AA- (CRISIL) 2029-01-15
INE321N07558 IFSL-GOLD-MCX-19-1-29-PVT AA- (CRISIL) 2029-01-19
IN8321N07029 NIFTY 50 SECURED RATED LISTED REDEEMABLE PRINCIPAL PROTECTED MARKET LINKED NON CONVERTIBLE DEBENTURE DATE OF MATURITY 14/05/2029 2029-05-14
INE321N07657 NIFTY 50 SECURED RATED LISTED REDEEMABLE PRINCIPAL PROTECTED MARKET LINKED NON CONVERTIBLE DEBENTURE DATE OF MATURITY 14/05/2029 AA- (ICRA) 2029-05-14 16.13% 2026-07-30
INE539K08120 CFSP-10.50%-PERPETUAL-PVT 10.50% AA (CARE) 2099-12-30
Compare (/) Compare Bonds

YTM and Last Trade depend on secondary-market volume — shown only for bonds with a recorded BSE/NSE trade.

05 Market Activity

Last 30 days, across all outstanding bonds from this issuer.

Traded Value (Last 30 Days)
₹0.0 Cr
Number of Trades (Last 30 Days)
95
Avg. Yield (Last 30 Days)
9.57%
06 Regulatory Filings
Credit Rating Rationale
07 Methodology & Data Coverage
DatasetCountFreshness
Credit Ratings (current) 32 2026-05-19
Rating Actions History 7 2026-08-21
Secondary-Market Trades 199 2026-08-27
Reg52(4) Payment Disclosures 0

Methodology version 1.0. See full methodology for sources and limitations.

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Frequently Asked Questions
How many active bonds does Incred Financial Services Limited have?

Incred Financial Services Limited currently has 34 active bonds with coupons 8.60% - 10.95%, maturities spanning 2026 - 2029.

What is Incred Financial Services Limited's credit rating?

The most recent rating on Incred Financial Services Limited's bonds is AA- (CRISIL), published by CARE, CRISIL, ICRA, INDIA_RATINGS.

Are Incred Financial Services Limited's bonds secured?

Of the 33 bonds with a disclosed security status, 32 are secured (96%) and 1 are unsecured.

When do Incred Financial Services Limited's bonds mature?

Incred Financial Services Limited's active bonds mature between 2026 - 2029; the nearest matures in 2026-09; the average tenure is 1.3 Yrs.

What is the average coupon on Incred Financial Services Limited's bonds?

The average coupon across Incred Financial Services Limited's 34 active bonds is 9.48%.

Disclaimer: This page aggregates publicly available data about Incred Financial Services Limited for informational purposes only. Ratings shown are the opinion of the issuing rating agency and are not buy/sell recommendations. RetailBonds.in does not issue its own ratings or investment advice. Verify all data against the issuer’s offer document before transacting.