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SEBI Registered Merchant Banker · Mainboard: 3
3
Total IPOs Managed
-
Avg Listing Gain
3
Mainboard IPOs
-
SME IPOs
InCred Capital Financial Services is a Mumbai-based investment bank that's been around since 1996, though it really found its current identity after Bhupinder Singh took over and rebuilt it under the InCred Group banner in 2016. Singh came from Deutsche Bank, where he spent 16 years — eventually co-heading their Corporate Banking and Securities division across Asia Pacific from Singapore. That pedigree shows in how InCred Capital has positioned itself — squarely in the institutional and mid-to-large corporate space.
The firm is a SEBI-registered Category I Merchant Banker, which means it can handle the full range of capital markets work — IPO lead management, equity and debt raises, M&A advisory, and private credit. It's not a boutique chasing small SME deals; their mainboard IPO ticket sizes typically run from ₹500 crore to ₹1,400 crore. Being named as a book-running lead manager on the OYO IPO — alongside Goldman Sachs, Axis Capital, and SBI Capital — puts them in serious company.
The broader InCred Group also runs wealth management, AMC, and lending businesses, so the capital markets arm sits within a reasonably diversified financial services platform.
Contact Details:
Address: Unit No. 1203, 12th Floor, B Wing, The Capital, Plot No. C-70, G Block, Bandra Kurla Complex, Mumbai – 400051
Phone: 022 68621500
Website: incredcapital.com
| IPO | Segment | Open Date | Issue Size | Issue Price | Subscription | Listing Gain | Listing Date |
|---|---|---|---|---|---|---|---|
InCred Holdings IPO
Soon
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Mainboard | - | - | - | - | - | - |
| Mainboard | - | - | - | - | - | - | |
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A lead manager, also known as a merchant banker, is a SEBI-registered financial institution appointed by a company to manage its Initial Public Offering (IPO). The lead manager plays a central role in taking a company from the decision to go public all the way to its listing on BSE or NSE.
Key responsibilities of a lead manager include conducting due diligence on the issuer company, preparing the DRHP (Draft Red Herring Prospectus), filing documents with SEBI, setting the price band, managing the book building process, coordinating with stock exchanges, registrars, and bankers, and ensuring the IPO opens and closes smoothly.
The quality of the lead manager often influences investor confidence in the IPO. Reputed merchant bankers like SBI Capital, Axis Capital, IIFL, and others have a track record of managing successful listings. However, it is always advisable to evaluate the issuer company's fundamentals independently before applying to any IPO.
Disclaimer
IPO data shown on this page is for informational purposes only. Past performance of IPOs managed by a merchant banker does not guarantee future results. Always read the prospectus and consult a SEBI-registered financial advisor before investing.
A lead manager (merchant banker) is a SEBI-registered entity responsible for managing the entire IPO process — from due diligence and DRHP preparation, to filing with SEBI, setting the price band, managing book building, and coordinating the listing on BSE or NSE. They act as the primary intermediary between the issuer company and the investing public.
Incred Capital Financial Services Pvt.Ltd has managed 3 IPOs tracked on IPORise. You can view the complete list, subscription data, and listing performance in the table above.
High subscription reflects investor demand, which is shaped by company fundamentals, valuation, grey market sentiment, and broader market conditions. A capable lead manager contributes to better price discovery and institutional interest. However, subscription numbers alone are not a reliable measure of lead manager quality — evaluate the issuer independently.
You can verify the SEBI registration of any merchant banker on the official SEBI website (sebi.gov.in) under the "Intermediaries/Market Infrastructure Institutions" section. All SEBI-registered merchant bankers are listed with their registration number, validity, and contact details.
