InCred Finance buys TruCap’s gold loan business for Rs 330 crore

InCred Finance, the new-age diversified lending arm of InCred Group, has announced the acquisition of TruCap Finance’s gold loan division in a deal worth around Rs 330 crore, aiming to strengthen its secured lending offerings and expand its footprint across India.

The sale, structured as a slump sale, includes the transfer of the “Dhanvarsha” trademarks and logos. TruCap said in a stock exchange filing that the transaction is expected to be completed by April 30, 2025.

The proposed acquisition is subject to the execution of long form documents, obtaining necessary approvals and the fulfilment of all conditions precedent to closing.

The acquisition gives InCred Finance control over 115 gold loan branches across the country and adds a customer base of more than 40,000. It also brings on board a team of over 550 employees and assets under management of over Rs 650 crore.

The strategic acquisition will provide InCred Finance with a head-start in the gold loans business, accelerating its go-to market timeline by 24-36 months. InCred Finance will get complete access to the experienced team of TruCap along with the well-established operational framework.

With this acquisition, InCred Finance will add another rapidly growing, scalable secured loan book to its diversified lending portfolio spread across Personal Loans, MSME Loans and Education Loans.