InCred Money plans to launch its alternate asset platform (www.incredmoney.com) with its debut product, corporate bonds. The platform will feature a non-convertible debenture (NCD) issued by a Hyderabad-based non-banking finance company, offering an attractive coupon rate of 12 per cent.
InCred Money is the retail wealth-tech arm of the InCred Group. It was launched with the acquisition of Orowealth, a retail-focused digital investment platform that managed an assets under management of ₹1,150 plus crore.
“We are going live tomorrow with Keertana Finserv’s NCD issue. We will come out with a series of such opportunities for investors,” Vijay Kuppa, CEO, InCred Money.
Keertana Finserv is promoted by Padmaja Reddy, the former founder and promoter of Spandana Sphoorthy. The NBFC, which offers gold loans, MSME loans, loan against property and joint liability group loans, is planning to raise ₹15 crore through an NCD issue of 20 months duration.
“Investors will receive principal repayment of 15 per cent every quarter. Plus, there will be monthly coupon payments. So, if you take the cashflows from the NCD investment, the effective duration will be about 12-13 months,” Kuppa said.
Bhupinder Singh, Founder and CEO of InCred Group, said that democratisation of investment opportunities covering the mass affluent and retail segments will be driven by digital platforms that unlock access to non-traditional assets for investors as well as their advisors.