Private equity firm KKR to merge NBFC with InCred’s retail franchise
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Global private equity firm KKR is set to back Mumbai-based InCred Finance, a retail and MSME-focused non-banking finance company (NBFC). The equity infusion is understood to be effectively a merger of KKR’s NBFC with InCred’s retail franchise. KKR will pick up a large minority stake in InCred, making it the largest investor in Mumbai-headquartered lender, sources said.