Singh has a wealth of experience spanning over two decades across investment banking, corporate finance, mergers and acquisitions, deal structuring and private equity
The development comes a week after the group's wealthtech arm-InCred Money- acquired South Asian Stocks Limited (SASL), which operates the discount broking platform Stocko. The deal marked InCred's entry into the retail broking space.
InCred Equities added Thyrocare Technologies to its conviction list while exiting Pidilite, Marico, and SBI Cards, citing shifting fundamentals and earnings outlook
The fund-raising underscores the growing need for capital in one of the world’s fastest-growing major economies
The rise in defaults is being driven by overleveraging, sub-lending, and a recent state ordinance
The appointment follows the resignation of former CFO Vivek Bansal earlier this year, who left to co-found Saarathi Finance, a new NBFC fintech venture, alongside Kotak Mahindra Bank's Sunil Daga, Moneycontrol had exclusively reported.
The company, while navigating the current regulatory landscape, is doubling down on its secured loans business while inching closer to an initial public offering (IPO).
The new NBFC fintech venture--Saarathi Finance-- is in talks with private equity investors to raise Rs 600 crore in equity. Both Bansal and Daga are expected to also part fund the venture, sources say.
Following the fresh capital infusion, InCred has been valued at USD 1.04 billion and has become the second company to gain unicorn status this year, the company said in a statement.
The three main business verticals of InCred — consumer loans, student loans, and MSME lending — will each receive a strategic allocation of the Rs 500 crore equity capital, the company stated