InCred Financial Services is in talks with advisors to launch an IPO, while B2B SaaS platform Perfios has bought healthcare information exchange platform IHX.
InCred Finance said to be in talks with advisors to launch IPO
Mumbai-based InCred Financial Services is in discussions to launch a Rs 4,000 crore ($470 million) initial public offering (IPO), Bloomberg reported on Tuesday citing sources.
The KKR-backed lending company is seeking a valuation of at least Rs 15,000 crore ($1.76 billion) and has planned to file for the share sale by October. The company is in talks with firms including IIFL Securities, Kotak Mahindra Bank Ltd. and Nomura Holdings Inc. for the IPO, according to the report.
Established in 2016 by Bhupinder Singh, InCred Finance provides personal loans, education loans and small business loans. It has disbursed loans worth Rs 18,000 crores to more than 4 lakh borrowers so far. It completed a merger with KKR India Financial Services Ltd. in 2022.
Perfios buys healthcare information platform IHX
Bengaluru-based B2B SaaS platform Perfios has bought healthcare information exchange platform IHX. Through this deal, Perfios aims to reduce the turnaround time of healthcare claims, and improve the experience for both patients and healthcare providers.
IHX processes over 40% of all cashless health insurance claims in India, with over 10 million transactions annually, representing $1 billion in claims. The platform is integrated with 30,000 hospitals across more than 1,200 locations.
Founded in 2008, Perfios provides data to the Banking, Financial Services and Insurance (BFSI) industry in 18 countries, helping over 1,000 financial institutions. The acquisition of IHX follows Perfios’ recent acquisitions of two companies, Clari5 and CreditNirvana, expanding its offerings in banking and financial services.
