CRED Mulling Investing INR 550 Cr In NBFC Newtap Finance

CRED had AUM worth INR 19,000 Cr as of December 2024 and NPAs of 1.1% compared to 0.73% in FY24 and 0.59% in FY23

the ratings agency assigned an ‘IND BBB’ rating to NFPL with a “stable outlook” for both its non-convertible debentures and bank loan facilities

The ratings agency’s report noted that NFPL’s total AUM stood at INR 1,141.6 Cr at the end of December 2024

Fintech major Cred is planning to pump INR 550 Cr in its non-banking finance company (NBFC) Newtap Finance Pvt Ltd (NFPL), as per a report by India…