Gaurav Maheshwari has been named Chief Financial Officer of InCred Finance, the consumer and MSME lending division of the InCred Group, with effect from December 16, 2024.
Maheshwari has over 27 years of illustrious experience in financial leadership, including over 20 years as the Cluster CFO for South Asia and India at Standard Chartered Bank. He has also held prominent positions at Coca-Cola India, Reuters India, and Altico Capital. InCred claims that as the organization grows, Gaurav's insights will be crucial in boosting capital efficiency, bolstering governance, and improving business performance.
This development coincides with reports that InCred Finance is preparing to go public. The company hopes to generate Rs 4,000–5,000 crore which comes to about 471–588 million through its initial public offering (IPO) and plans to list in the last quarter of 2025.
InCred Finance is an NBFC that was founded in 2016 by Bhupinder Singh and provides a wide range of financing options, such as student loans, personal loans, MSME loans, and loans against property (LAP).
InCred Finance, InCred Capital, and InCred Money are the three companies that make up the InCred Group. The group's operating revenue increased by 48% to Rs 1,267 crore in FY24. In the previous fiscal year, it too declared a Profit After Tax (PAT) of Rs 316 crore.
Investors such as Ranjan Pai, KKR, ADIA, TRS, OAKS, INVESTCORP, Moore Capital, and Elevar Equity are among those who support the business.
