Rapido IPO: Rapido, a taxi service providing company, is preparing to enter the stock market soon. It is expected that the IPO of the company may come by the end of next year i.e. 2026. Speaking to news agency PTI, company co-founder Arvind Sanka said that Rapido wants to maintain an annual growth rate of 100 percent in the coming years.
IPO till next year
According to Arvind Sanka, the company’s aim is to become a bigger and stronger company than its nearest competitor before launching the IPO. He said that at present he is focusing on expanding his business further before entering the stock market.
Sanka said that Rapido’s growth rate has been 100 percent continuously in the last two years, and the company wants to maintain this pace for the coming few years. Only after this a concrete decision will be taken on IPO.
Tremendous growth in two years
When asked if Rapido is preparing to start the IPO process after two years, he said that the company’s decision can change every quarter depending on its performance. However, Rapido is making full preparations for the IPO on all fronts — be it operational, commercial or regulatory.
NBFC applied for IPO
Incred Holdings, a unit of non-banking financial company (NBFC) Incred Holdings Financial Services, has confidentially applied for its IPO with SEBI. News agency PTI, quoting sources related to the matter, has said that the size of the proposed IPO is estimated to be around Rs 3,000 to 4,000 crore. The company said in a public announcement on Sunday that it has submitted the draft documents related to the proposed IPO of its equity shares to SEBI and the stock exchanges.
InCred Financial Services was established in the year 2016. The company currently operates across the country through a network of more than 140 branches and more than 2,600 employees. Till now the company has served more than four lakh customers and distributed loans worth more than Rs 25,000 crore. This move is considered an important step in Incred Group’s growth strategy, which can help the company receive new investments from the capital markets and accelerate its business expansion.
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