Highlights
InCred Finance Appoints Gaurav maheshwari as New CFO
InCred Finance, the lending division of the InCred Group focused on empowering consumers and micro, small, and medium enterprises (MSMEs), has announced the appointment of Gaurav Maheshwari as its Chief Financial Officer (CFO), effective December 16, 2024.
Extensive Experiance in Financial leadership
Gaurav Maheshwari brings a wealth of experience to his new role,with over 27 years in financial management. His career highlights include a notable period at Standard Chartered Bank where he served as cluster CFO for India and South Asia for more than twenty years. Additionally, he has held pivotal positions at Altico Capital, Reuters India, and Coca-Cola India.
driving Strategic Growth
InCred is confident that gaurav’s extensive knowledge will be instrumental in enhancing operational efficiency, optimizing capital allocation strategies, and fortifying governance frameworks as the company aims to expand its market footprint.
Plans for Public Market Debut
This strategic appointment underscores InCred Finance’s aspirations to enter public markets. The company is targeting a stock exchange listing by late 2025 with plans to raise between ₹4,000-5,000 crore (approximately $471-588 million) through an upcoming initial public offering (IPO).
An Overview of InCred Finance
Founded in 2016 by Bhupinder Singh, incred Finance operates as a non-banking financial company (NBFC) providing diverse lending solutions such as personal loans, educational financing for students pursuing higher education opportunities, tailored funding options for MSMEs, and loans secured against real estate assets.
The InCred Group comprises three main entities: InCred Finance itself along with InCred Capital and InCred Money. For the fiscal year ending FY24, this group reported remarkable revenue growth of 48%, reaching ₹1,267 crore while achieving a profit after tax (PAT) totaling ₹316 crore during this period.
Robust Investor Backing
Incred enjoys strong backing from notable investors including Ranjan Pai alongside global firms like KKR and ADIA. Other significant supporters include TRS Investments LLC., OAKS Asset Management LLC., INVESTCORP Bank B.S.C., Moore Capital Management LP., and Elevar Equity—further reinforcing its position within the financial sector.