InCred Finance acquires TruCap’s gold loans business
Non-banking finance company (NBFC) InCred Finance has acquired NBFC TruCap Finance’s gold loan business through a slump sale.
Trump-Modi Meet
The mega MIGA, MAGA plans of India's Modi and US' Trump
Trump says India has more tariffs than others
Trump's 'golden rule' for imposing reciprocal tariffs
In a stock exchange filing, TruCap said the total value of the deal will be about Rs 330 crore, subject to “certain adjustments”, and is expected to be completed by April 30.
The deal includes the transfer of the ‘Dhanvarsha’ brand name and its trademarks, from the listed NBFC TruCap Finance to InCred Finance. This deal marks InCred's entry into the lucrative gold loan market.
The acquisition, aimed at strengthening InCred’s secured lending portfolio, comes as the Reserve Bank of India tightens scrutiny on unsecured lending by NBFCs and banks, prompting many players to expand their secured loan offerings.
InCred Finance noted that the proposed acquisition will add a network of 115 branches, a customer base of over 40,000, more than 550 employees, and assets under management (AUM) of over Rs 650 crore. However, the deal is subject to regulatory approvals.
Artificial Intelligence(AI)
Java Programming with ChatGPT: Learn using Generative AI
By — Metla Sudha Sekhar, IT Specialist and Developer
Artificial Intelligence(AI)
Basics of Generative AI: Unveiling Tomorrows Innovations
By — Metla Sudha Sekhar, IT Specialist and Developer
Artificial Intelligence(AI)
Generative AI for Dynamic Java Web Applications with ChatGPT
By — Metla
