MUMBAI : A year after entering into talks for a partnership, American private equity giant KKR’s non-bank lending business KKR India Financial Services (KIFS) and InCred Financial Services , the retail and MSME lending business of InCred, have inked a deal to merge the two lending businesses. A consortium consisting of Singh, as well as existing InCred investors, will own a majority stake in InCred Finance. InCred Finance will be a strategic investment for KKR and will not be a portfolio company in a KKR fund. “Consequently, while the Gross NPA inched up to 6.0% as on December 31, 2019 compared to 2.1% as on March 31, 2019 the net NPA remained lower at 3.5%. InCred Finance was advised by Credit Suisse and InCred Capital.

Source: Mint August 17, 2021 01:41 UTC