India, July 3 -- InCred Group's lending arm, InCred Finance, has raised a debt funding of INR 400 Cr (around $46.8 Mn) from Morgan Stanley, Nippon Life India, among others. Besides, it bagged an equity funding of INR 40 Cr from its parent.

As per the unicorn's MCA filings accessed by Inc42, InCred Finance allotted 40,000 non-convertible debentures (NCDs) for INR 1 Lakh apiece to raise the funding amount. The lending arm has the approvals to raise a debt of up to INR 4,500 Cr.

While Morgan Stanley India Primary Dealer invested INR 300 Cr, Nippon Life India pumped in INR 50 Cr. The remaining INR 50 Cr came from Incred Group's arms InCred Capital and InCred Wealth.

As per a separate filing, InCred Holdings Ltd, the parent of InCred Financ...