InCred Money Set to Acquire Stocko for Rs 300 Crore

Lending and wealth service provider InCred Money is preparing to acquire the trading platform Stocko for Rs 300 crore ($35 million). According to a report by ET, upon closing the transaction, Stocko will be renamed InCred Stocko. However, the agreement is currently pending regulatory approval.

Stocko provides trading services for stocks, options, commodities, and currencies, boasting a daily turnover of Rs 1 lakh crore. The merger will see the company’s leadership, spearheaded by Shrey Jain, remain intact. InCred plans to integrate the functionalities of Stocko with its existing suite of services.

InCred’s Entry into Retail Brokerage

This acquisition signifies InCred’s foray into the retail brokerage market. InCred Money is part of the InCred Group, which also offers lending and wealth management services. Under the leadership of Bhupinder Singh, InCred attained unicorn status after securing $60 million in a Series D funding round from both new and existing investors in December 2023, as reported by Startup Superb.

IPO Plans and Financial Growth

A report from Mint indicates that InCred aims to raise between Rs 4,000 and 5,000 crore ($471 to 588 million) through its initial public offering (IPO), targeting a valuation of Rs 15,000 to 22,500 crore, with a share price set between Rs 225 and 325. The company is reportedly aiming for a listing in the final quarter of 2025.

The InCred Group encompasses three primary entities: InCred Finance, InCred Capital, and InCred Money. For the fiscal year 2024, the group’s operational revenue experienced a significant growth of 48%, reaching Rs 1,267 crore. Additionally, it reported a profit after tax (PAT) of Rs 316 crore for the previous fiscal year.