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InCred Finance, the consumer and MSME lending arm of InCred Group, has just announced the appointment of Gaurav Maheshwari as its new Chief Financial Officer (CFO), starting December
InCred Finance, the consumer and MSME lending arm of InCred Group, has just announced the appointment of Gaurav Maheshwari as its new Chief Financial Officer (CFO), starting December 16, 2024. This strategic hire comes at a key moment for the company, which is gearing up for a major Initial Public Offering (IPO) as part of its plan to expand further and solidify its position in the financial services sector.
In this article, we’ll dive into who Gaurav Maheshwari is, why this appointment matters for InCred, and what the company’s ambitious IPO plans mean for its future.
Gaurav Maheshwari brings over 27 years of experience in financial leadership to InCred. His extensive career includes more than two decades at Standard Chartered Bank, where he served as the Cluster CFO for India and South Asia. In this role, he was responsible for managing large-scale financial operations and driving key strategic initiatives.
Maheshwari has also held senior positions at Altico Capital, Reuters India, and Coca-Cola India, which has equipped him with a broad range of expertise in finance, operations, and strategic growth.
According to Bhupinder Singh, Founder & CEO of InCred Group, Maheshwari’s expertise and leadership will be crucial in helping InCred scale its operations and navigate the exciting challenges ahead, particularly as the company prepares for its public listing.
The appointment of Gaurav Maheshwari comes as InCred Finance looks toward a planned IPO in the final quarter of 2025. The company aims to raise between Rs 4,000 crore and Rs 5,000 crore (approximately $471 million to $588 million) through the listing.
This move marks a significant milestone for InCred as it seeks to cement its position as a key player in the Indian financial services market. By going public, InCred plans to gain access to more capital, which it will use to fuel its growth strategy, expand its customer base, and scale its operations.
For InCred, the IPO is not just about raising funds—it’s also about gaining credibility and visibility in a highly competitive market. By becoming a publicly traded company, InCred will have the opportunity to build even stronger relationships with investors, enhance its brand presence, and continue its path of aggressive expansion.
Founded in 2016 by Bhupinder Singh, InCred Finance operates as a Non-Banking Financial Company (NBFC) that offers a wide range of lending solutions. These include personal loans, student loans, MSME (Micro, Small, and Medium Enterprises) loans, and loans against property.
As a financial services company, InCred is uniquely positioned to meet the diverse needs of both individuals and businesses. With an emphasis on innovative solutions and digital-first services, InCred has become a preferred choice for millions of customers looking for flexible and quick financing options.
In addition to InCred Finance, the group also operates InCred Capital and InCred Money, expanding its footprint in the financial ecosystem.
InCred Group has been showing strong financial performance. For the fiscal year 2024, the company reported an impressive 48% growth in revenue, reaching Rs 1,267 crore. It also posted a Profit After Tax (PAT) of Rs 316 crore, underscoring the company’s strong market position and its ability to deliver consistent returns for investors.
The significant growth figures are a testament to the strength of InCred’s business model, its customer-centric approach, and its commitment to innovation in the financial sector. The company’s ability to deliver solid financial results, even as it expands, puts it in a strong position as it looks toward its IPO.
InCred’s growth is supported by an impressive group of investors, including major names like:
These investors have shown strong confidence in InCred’s business model and growth potential. With such backing, InCred is well-equipped to take on the challenges of an IPO and build on its success in the coming years.
InCred’s MSME lending segment is a crucial part of its growth story. MSMEs make up a significant portion of the Indian economy, and they often face challenges when accessing traditional forms of financing. InCred’s ability to cater to this market with tailored loans, flexible repayment options, and a digital-first approach has helped it carve out a niche in the competitive Indian financial services space.
The company’s student loan and personal loan offerings have also been well-received, contributing to its growing customer base and revenue growth.
The decision to bring in Gaurav Maheshwari as CFO comes at a critical juncture for InCred Finance. His vast experience in financial operations, strategic growth, and risk management will be essential as the company moves closer to its IPO.
Maheshwari’s leadership will also play a key role in enhancing capital efficiency, improving corporate governance, and managing the complex financial operations that come with being a public company. His deep understanding of both Indian and international financial markets makes him an invaluable asset for InCred, particularly as it prepares for the challenges of scaling and listing on the stock market.
As InCred Finance gears up for its IPO launch in late 2025, the company is focused on executing a strategic plan that will further strengthen its market position and appeal to potential investors. The road to a successful IPO will involve:
The IPO is expected to help InCred raise the capital it needs to continue its expansion and solidify its place as a leading financial services provider in India.
With the appointment of Gaurav Maheshwari as CFO, InCred Finance is taking a significant step toward its goal of becoming a publicly listed company. The financial expertise and leadership Maheshwari brings to the table will be pivotal in steering the company toward its IPO and beyond.
As InCred continues to grow and expand its offerings, the IPO will serve as a major milestone in its journey, providing the company with the resources it needs to cement its position in India’s rapidly growing financial services sector.
InCred’s commitment to innovation, customer-centric services, and robust financial performance makes it a company to watch in the coming years.
