InCred & TruCap’s - Business Outrank

The center stage is taken by Gold as InCred Finance, the NBFC arm of InCred Group has made a bold entry into the gold loan market with the proposed acquisition of TruCap Finance Ltd’s gold loans business. The deal’s financial details are not disclosed; thus, the acquisition is a significant leap in InCred's growth strategy. The acquisition provides InCred Finance with a strong base of 115 branches, 40,000 customers, and 550 employees. It also gets an excellent Asset Under Management (AUM) of over Rs 650 crore, making InCred a significant player in the gold loan segment. This move provides a strategic head start, which helps InCred accelerate its gold loan expansion by 24-36 months. Thus, InCred Finance can avoid the market entry hurdles by integrating TruCap's experienced team and well-established operational framework. The deal is quite similar to the one we discussed above, i.e., it is similar in nature and can be compared based on the reasons stated below: The acquisition is consistent with InCred's mission to diversify its lending portfolio, which already includes personal, MSME, and education loans. Saurabh Jhalaria, a founding member of InCred Finance and the head of its MSME and Education loan verticals, will head the gold loan division. However, the deal remains contingent upon the fulfillment of certain conditions, such as the attainment of regulatory clearance and the signing of the necessary agreements. When cleared, InCred Finance will further strengthen its presence in the secured loan market and enhance its capacity to offer lending services.

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