InCred Finance Expands Footprint with Gold Loans Acquisition

InCred Finance, a part of the InCred Group, is venturing into gold loans by acquiring the gold loans business of TruCap Finance Ltd. This move gives InCred Finance access to 115 branches and 40,000 customers, significantly enhancing its lending portfolio. The acquisition will be spearheaded by Saurabh Jhalaria.

InCred Finance, the non-banking financial company (NBFC) arm of InCred Group, has announced its entry into the gold loan market through a lucrative acquisition. The company will acquire the gold loans business of TruCap Finance Ltd—formerly recognized as Dhanvarsha Finvest Ltd.

The acquisition process includes a transfer of 115 branches, a customer base of 40,000, and a team of 550 employees, totaling an asset under management (AUM) of over Rs 650 crore. While the financial details remain undisclosed, the acquisition is subject to final approvals and execution of requisite documentation.

This strategic deal will rapidly increase InCred Finance's presence in the gold loans sector by 24-36 months. The acquisition not only strengthens its diversified lending portfolio but is also expected to be led by Saurabh Jhalaria, a founding team member tasked with overseeing the MSME and Education loans divisions.