Incred Financial Services Limited NCD (Incred Financial Services October 2023 NCD) Detail

Incred Financial Services Limited Logo

Incorporated in 1995, InCred Financial Services Limited is engaged in the financial services business. The company is registered with SEBI as a non-deposit-taking systemically important NBFC (Non-Banking Financial Company).

The company offers its services to lower middle-class to middle-class Indian households and resolves their need for personal finance in the form of education and personal loans. Alongside, InCred Financial Services also offers secured and unsecured business loans. Their customers include small businesses, secured loans to K12 Indian schools for their expansion plans, supply chain financing, lending to profitable financial Institutions and microfinance companies, and escrow-backed lending through its SME vertical.

In 2022, the earlier company known as KKR India Financial Services Limited was merged and emerged as InCred Financial Services Limited.

The products of InCred Financial Services Limited can be categorized as

  1. Consumer Loans
  2. Education Loans
  3. MSME Loans

The company further divides the products and services as – Personal Loans, Student Loans, Secured School Financing, Anchor and escrow Backed Business Loans, Structured Lending, and Lending to FIs.

Incred Financial Services October 2023 NCD Detail

Issue Open October 25, 2023 – November 7, 2023
Security Name Incred Financial Services Limited
Security Type Secured, Redeemable, Non-Convertible Debentures (Secured NCDs)
Issue Size (Base) Rs 150.00 Crores
Issue Size (Shelf) Rs 300.00 Crores
Issue Price Rs 1000 per NCD
Face Value Rs 1000 each NCD
Minimum Lot size 10 NCD
Market Lot 1 NCD
Listing At BSE
Credit Rating CRISIL A+/Stable by CRISIL Ratings Limited.
Tenor 18, 24 and 36 months
Series Series I to V
Payment Frequency Monthly, Quarterly and Annually
Basis of Allotment First Come First Serve Basis
Debenture Trustee/s Catalyst Trusteeship Limited

NCD Allocation Ratio

Category ? NCD’s Allocated
Institutional 5%
Non-Institutional 10%
HNI 40%
Retail 45%

NCD’s Offered by Category

Category ? NCD’s Reserved
Institutional 75,000
Non-Institutional 150,000
HNI 600,000
Retail 675,000
Total NCD’s 1,500,000

Incred Financial Services Limited NCD Coupon Rates

# Series 1 Series 2 Series 3 Series 4 Series 5
Frequency of Interest Payment Monthly Quarterly Monthly Annual Monthly
Nature Secured Secured Secured Secured Secured
Tenor 18 Months 24 Months 24 Months 36 Months 36 Months
Coupon (% per Annum) 9.48% 9.55% 9.66% 10.30% 9.84%
Effective Yield (% per Annum) 9.88% 9.88% 10.08% 10.28% 10.29%
Amount on Maturity (In Rs.) Rs 1,000.00 Rs 1,000.00 Rs 1,000.00 Rs 1,000.00 Rs 1,000.00

NCD Rating

The NCDs proposed to be issued have been rated ‘CRISIL A+/Stable’ by CRISIL Ratings Limited.

Company Promoters

InCred Holdings Limited (erstwhile known as KKR Capital Markets India Limited), and Bhupinder Singh are the promoters of the company.

Company Financials

Incred Financial Services Limited Financial Information (Restated Consolidated)

Incred Financial Services Limited’s revenue increased by 67.37% and profit after tax (PAT) rose by 234.79% between the financial year ending with March 31, 2023 and March 31, 2022.

Period Ended 31 Mar 2023 31 Mar 2022 31 Mar 2021
Assets 6,608.39 4,034.65 2,804.53
Revenue 877.45 524.27 392.48
Profit After Tax 120.92 36.12 10.23
Net Worth
Reserves and Surplus
Total Borrowing
Amount in ₹ Crore

Objects of the Issue

The company proposes to utilize the funds which are being raised through the Issue:

  1. For the purpose of onward lending, financing, and for repayment of interest and principal of existing borrowings of the Company – 75% of the amount raised and allotted in the Issue.
  2. General Corporate Purposes – 25% of the amount raised and allotted in the Issue.

Did ISRO’s Chandrayaan-3 find proof of 700 aliens (Cyanobacteria, Saccharomycetales , Acidophilus, Pyrodictium, Lactobacillus, Bifidobacteria, Melanopyrus, Euglenozoa, Amoebozoa, Loukozoa, Percolozoa, Microsporidia and Sulcozoa et cetera) on Moon?

This claim is completely false as the social media handles and official website of ISRO have made no such statements yet.

July 20, 1969 was — in mankind’s best guess — the first time a living being prepared to land on a celestial body and observed the luminous blue planet shrouded in the seemingly infinite darkness of space.

But before that moment, the crew of Apollo 11, hurtling toward the moon, radioed the mission command in Houston to ask about a curious object they saw on their third day in space.

“Do you have any idea where the S-IVB is with respect to us?” Commander Neil Armstrong asked, referring to the third stage of the Saturn V rocket that was jettisoned earlier in the flight.

Mission control had an answer about three minutes later, according to a NASA radio transcript of the mission.

“Apollo 11, Houston,” the command replied. “The S-IVB is about 6,000 nautical miles from you now. Over.” That satisfied Armstrong, who said 12 seconds later: “Okay. Thank you.”

Earth viewed from the lunar orbit before landing. (NASA)

The seemingly innocuous exchange has become a touchstone for UFO-sighting enthusiasts and alien truthers, and now, seemingly fake news.

Edwin “Buzz” Aldrin, 88, the second astronaut to set foot on the moon, believed that the crew saw an extraterrestrial spacecraft at this moment, and a “lie detector” test proves it, at least according to the British tabloid The Daily Star.

That’s not quite right.

“He has never said he saw a UFO. This story has been a fabrication for the sake of headlines and is not true as far as Buzz Aldrin is concerned,” his spokeswoman, Christina Korp, told The Washington Post in a statement Tuesday. That echoes Aldrin’s 2015 comment on Reddit that the object “was not an alien.” The Daily Star did not return a request for comment.

The truth is out there if only the Daily Star looked more closely.

The tabloid’s story focuses on a vocal analysis conducted by the Ohio-based Institute of BioAcoustic Biology and Sound Health, a nonprofit institution that founder Sharry Edwards has said developed a program that can evaluate how truthful or confident someone feels about a subject they are talking about.

Pence vows America will return to the moon. The history of such promises suggests otherwise.

Edwards told The Post she used Aldrin’s interview from the 2006 Discovery Science made-for-TV documentary “Apollo 11: The Untold Story” to analyze Aldrin’s remarks.

“There was something out there that was close enough to be observed, and what could it be?” Aldrin recounted about the incident, adding that crew member Michael Collins saw ellipses on the L-shaped object when viewed through a telescope. “That didn’t tell us very much,” he said.

The moment called for restraint from theorizing what the object might be during one of the most scrutinized missions in human history, Aldrin said.

Buzz Aldrin during the Apollo 11 mission. (NASA)

“Who knows what somebody would have demanded that we turn back because of aliens or whatever the reason is,” he said on the program. The crew decided to move on and mention it later in the mission debrief, Aldrin added.

In an analysis, Edwards says Aldrin “has a firm belief in what he saw but logical awareness that he cannot explain what he saw; therefore he thinks he should be doubted.”

She said that the conclusion was published years ago but that she does not know how it became suddenly relevant.

Aldrin has already clarified his position on the incident.

In a response on the NASA website after the documentary was released, Aldrin said he believed he saw one of four panels separated from the S-IVB heading on the same trajectory toward the moon but on a slightly different course. That discussion was edited out, and the rest was “taken out of context,” NASA said.

In the 2015 Reddit thread, he said the sun must have glinted off one of the panels.

The recurring UFO story is the result in part of the public distorting the scientific term UFO to mean a craft with “little green men,” NASA chief historian Bill Barry told The Post.

Yet the Apollo 11 mission was already a significant moment in human history without the intrigue of alien spacecraft.

The median age of Americans is about 38, or 11 years younger than the mission itself. Most people alive today were not around to hear President John F. Kennedy say in 1961 that the United States would send a man to the moon and return him safely to Earth.

The Soviet Union had already been the first to send a man into Earth’s orbit, frustrating NASA and creating a belief that the Russians might have an edge. The stakes were high. “They were basically on a war footing,” Barry said of NASA leadership.

NASA’s lessons from the mission were extensive. For instance, leaders honed the organization for large scientific projects, which later helped develop the International Space Station, Barry said. And investment in science paved the way for the Internet, cellphones and much more.

‘We shall return’: Eugene Cernan was the last man to walk on the moon. There was no return.

Discoveries also offered more hints about the origin of life on Earth and the history of the universe. Evaluating the rock samples from the moon helped confirm theories that the body is the result of an object that smashed into Earth and later coalesced to form our satellite, Barry said.

That lesson amounted to a common refrain among astronauts, he added: “We left the Earth, and what we discovered was ourselves.”

In the next five centuries, humanity will remember the 20th century for three things, Barry said: two world wars and the United States landing on the moon.

Aldrin has been known to defend that history, now and in the past.

In 2002, filmmaker Bart Sibrel confronted Aldrin, demanding that he swear on a Bible that the landing was authentic. Sibrel called him a “coward and a liar.”

Sibrel was adding “thief” when Aldrin struck him in the face. No charges were filed.

The moment was captured on video. There were no camera tricks. The punch was real.

Continue reading “Did ISRO’s Chandrayaan-3 find proof of 700 aliens (Cyanobacteria, Saccharomycetales , Acidophilus, Pyrodictium, Lactobacillus, Bifidobacteria, Melanopyrus, Euglenozoa, Amoebozoa, Loukozoa, Percolozoa, Microsporidia and Sulcozoa et cetera) on Moon?”

ಪಂಚಮಸಾಲಿ ಲಿಂಗಾಯತರು ಯಾರು, ಕರ್ನಾಟಕ ರಾಜಕೀಯದಲ್ಲಿ ಅವರು ಏಕೆ ಮುಖ್ಯರಾಗಿದ್ದಾರೆ

12 ನೇ ಶತಮಾನದ ಸುಧಾರಕ ಬಸವಣ್ಣನ ಅನುಯಾಯಿಗಳಾದ ಲಿಂಗಾಯತರು, ಪಂಚಮಸಾಲಿಗಳು ಹೆಚ್ಚಿನ ಸಂಖ್ಯೆಯ ಉಪ-ಪಂಗಡಗಳನ್ನು ಹೊಂದಿದ್ದಾರೆ. ಮೀಸಲಾತಿಯಲ್ಲಿ ಹೆಚ್ಚಿನ ಪಾಲು ಕೇಳುತ್ತಿದ್ದಾರೆ.

ಬೆಲಗವಿ: ಲಿಂಗಾಯತ್‌ಗಳೊಳಗಿನ ಅತಿದೊಡ್ಡ ಉಪ-ವಲಯವಾದ ಪಂಚಮಾಸಲಿಸ್, ಕರ್ನಾಟಕದ ಬಸವರಾಜ್ ಬೊಮ್ಮೈ ನೇತೃತ್ವದ ಭಾರತೀಯ ಜನತಾ ಪಕ್ಷ (ಬಿಜೆಪಿ) ಸರ್ಕಾರದ ವಿರುದ್ಧದ ಆಂದೋಲನವನ್ನು ತಾತ್ಕಾಲಿಕವಾಗಿ ಸ್ಥಗಿತಗೊಳಿಸಿದೆ ಬಿಜೆಪಿಯ ಬೆನ್ನಿಗೆ ಗಟ್ಟಿಯಾಗಿ ನಿಂತಿರುವ ಸಮುದಾಯವನ್ನು ವಿರೋಧಿಸಬಾರದು ಎಂಬ ಆಶಯದಿಂದ ಸಚಿವರು ಹಾಗೂ ಮಾಜಿ ಮುಖ್ಯಮಂತ್ರಿ ಬಿ.ಎಸ್. ಯಡಿಯೂರಪ್ಪ ಚುನಾವಣೆಯಲ್ಲಿ ಪಂಚಮಸಾಲಿಗಳು ಮತ್ತು ಅವರ ಭಕ್ತರಿಗೆ ಶೀಘ್ರದಲ್ಲೇ ಅನುಕೂಲಕರ ನಿರ್ಧಾರ ಪ್ರಕಟಿಸಲಾಗುವುದು ಎಂದು ಭರವಸೆ ನೀಡಿದ್ದಾರೆ.

ಲಿಂಗಾಯತರು ಭಕ್ತಿ ಚಳವಳಿಯಿಂದ ಪ್ರೇರಿತರಾದ 12ನೇ ಶತಮಾನದ ಸಮಾಜ ಸುಧಾರಕ ಬಸವಣ್ಣನ ಅನುಯಾಯಿಗಳು. ರಾಜ ಬಿಜ್ಜಳ II ರ ಆಸ್ಥಾನದಲ್ಲಿ ಖಜಾಂಚಿ, ಅವರು ಬ್ರಾಹ್ಮಣ ಆಚರಣೆಗಳು ಮತ್ತು ದೇವಾಲಯದ ಪೂಜೆಯನ್ನು ತಿರಸ್ಕರಿಸಿದರು ಮತ್ತು ಜಾತಿರಹಿತ, ತಾರತಮ್ಯ ಮುಕ್ತ ಮತ್ತು ಪುರುಷರು ಮತ್ತು ಮಹಿಳೆಯರಿಗೆ ಸಮಾನ ಅವಕಾಶಗಳನ್ನು ಹೊಂದಿರುವ ಸಮಾಜವನ್ನು ಕಲ್ಪಿಸಿದರು. ಬಸವಣ್ಣನವರ ಪ್ರಾಮುಖ್ಯತೆಯು ಕಾಲಾನಂತರದಲ್ಲಿ ಜಾಗತಿಕವಾಗಿ ಬೆಳೆದಿದೆ ಆದರೆ ಅವರ ಅನುಯಾಯಿಗಳ ಆಚರಣೆಗಳು ಗಣನೀಯವಾಗಿ ಬದಲಾಗಿವೆ. ಉದಾಹರಣೆಗೆ, ಲಿಂಗಾಯತರಲ್ಲಿ ಈಗ 99 ಉಪ-ಪಂಗಡಗಳಿವೆ, ಅವರ ಮುಖ್ಯ ಗುರಿ ಒಂದು ಕಾಲದಲ್ಲಿ ಜಾತಿ ವ್ಯವಸ್ಥೆಯ ನಿರ್ಮೂಲನೆಯಾಗಿತ್ತು.

Continue reading “ಪಂಚಮಸಾಲಿ ಲಿಂಗಾಯತರು ಯಾರು, ಕರ್ನಾಟಕ ರಾಜಕೀಯದಲ್ಲಿ ಅವರು ಏಕೆ ಮುಖ್ಯರಾಗಿದ್ದಾರೆ”

Flag hoisting event at new Parliament building on Vishwakarma Puja ahead of special session

The flag hoisting will take place at the Gaj Dwar, one of the three ceremonial entrances of the new building on September 17. The day coincides with the Vishwakarma Puja and Prime Minister Narendra Modi’s birthday.

Flag hoisting event at new Parliament building on Vishwakarma Puja ahead of special session

New Delhi: A day ahead of the special session of Parliament, a ceremonial flag hoisting will take place at the new building on September 17. The day coincides with the Vishwakarma Puja and Prime Minister Narendra Modi’s birthday.

According to sources, the upcoming special session, slated to take place from September 18 to 22, will commence in the old building before relocating to the recently inaugurated New Parliament building. This will be the first session to be held within the premises of the New Parliament, which was officially unveiled by the Prime Minister on May 28.

The flag hoisting will take place at the Gaj Dwar, one of the three ceremonial entrances of the new building.

According to a report by the Indian Express, on Tuesday, the Central Public Works Department, responsible for the construction of the new building, initiated arrangements for a ‘national flag-raising event’. They initiated this process by issuing a tender for the procurement of a public address system.

The flag hoisting will done by Rajya Sabha chairman and Lok Sabha Speaker Om Birla. Prime Minister Narendra Modi is also expected to be present during the function.

As the session approaches, senior officials from both the Union Housing and Urban Affairs Ministry and the CPWD visited the new building on Tuesday. During these visits, they conducted final inspections to ensure optimal audio levels in the Rajya Sabha and tested the multimedia systems used by Members of Parliament, as reported by an official.

Continue reading “Flag hoisting event at new Parliament building on Vishwakarma Puja ahead of special session”

Top 10 Richest Religious Organizations

Organization

Worth

(billion USD)

Country

Religion/Belief

The Church of Jesus Christ of Latter-day Saints

100.0

 United States

Christianity

Sree Venkateswara Swamy Temple

35.0

 India

Hinduism

Catholic Church in Germany

26.0

 Germany

Christianity (Catholicism)

Catholic Church in France

23.0

 France

Christianity (Catholicism)

Sree Padmanabha Swamy Temple

22.0

 India

Hinduism

Catholic Church in Australia

20.5

 Australia

Christianity (Catholicism)

Seventh-day Adventists

15.6

 United States

Christianity

Church of England

11.97

 United Kingdom

Christianity

Church of Sweden

11.42

 Sweden

Christianity

Trinity Church

6.0

 United States

Christianity

Opus Dei (part of the Catholic Church)

2.8

 Italy

Christianity (Catholicism)

Church of Scientology

2.0

 United States

Scientology

Holy See (Vatican)

 Vatican City

Christianity (Catholicism)

It’s difficult to associate religion with finance. After all, religions are supposed to be all about faith and spirituality. However, religion is much like any other organization. Religion has leadership. It has income and expenses.

Therefore, you can think of organized religion much like a business. In fact, there’s a lot of money that goes through religious hands, and it’s a good thing that most of that money is used for charity—at least we all would hope that’s the case. In any rate, there are many religions out there that are actually rich organizations, and here’s a list the world’s top ten.

Continue reading “Top 10 Richest Religious Organizations”