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InCred Finance Appoints New CFO, Gears Up for IPO

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InCred Finance Appoints New CFO Gears Up for IPO

InCred Finance, a prominent player in the Indian consumer and MSME lending space, has appointed Gaurav Maheshwari as its new Chief Financial Officer (CFO). Maheshwari brings over 27 years of experience in financial leadership, having held senior positions at Standard Chartered Bank, Altico Capital, and other notable organizations.

This appointment comes at a crucial juncture for InCred Finance as the company prepares for an initial public offering (IPO) scheduled for the last quarter of 2025. The firm aims to raise between ₹4,000 crore and ₹5,000 crore (approximately $471–588 million) through this IPO, which will further fuel its growth and expansion plans.

Focus on Growth and Expansion

Maheshwari’s expertise will be instrumental in driving business growth, enhancing capital efficiency, and strengthening corporate governance as InCred Finance embarks on this new phase. His extensive background in finance will help navigate the complexities of the IPO process and ensure that the company is well-positioned for future success.

Strategic Goals

  • Capital Raising: The funds raised from the IPO are expected to support InCred’s expansion initiatives and strengthen its balance sheet.
  • Market Positioning: By going public, InCred aims to enhance its visibility and credibility in the competitive financial services market.

Strong Financial Performance

InCred Finance has demonstrated robust financial performance in recent years. In the fiscal year 2024, the company recorded a 48% increase in revenue from operations, reaching ₹1,267 crore, while achieving a profit after tax (PAT) of ₹316 crore. This impressive growth underscores the company’s strong business model and operational efficiency.

Assets Under Management

As of FY24, InCred Finance reported assets under management (AUM) worth ₹9,039 crore, reflecting a significant year-on-year increase of 52%. This growth trajectory positions InCred favorably within the Indian lending landscape.

Investor Confidence

Backed by a strong investor base that includes prominent names such as Ranjan Pai, KKR, and the Abu Dhabi Investment Authority, InCred Finance has garnered significant investor confidence. This backing reflects the company’s potential to disrupt the Indian financial services market with its innovative products and services.

Notable Investors

  • KKR holds a 13.4% stake in InCred and is expected to play a crucial role during the IPO process.
  • Other investors include OAKS, Investcorp, Moore Capital, and Elevar Equity.

Looking Ahead

With Gaurav Maheshwari’s appointment as CFO and the upcoming IPO, InCred Finance is well-positioned for continued growth and success in the Indian financial services landscape. The company is focused on enhancing its secured loans business while navigating regulatory challenges in the lending environment.

Future Plans

InCred’s leadership has indicated that they are committed to engaging closely with regulators to ensure compliance while pursuing their growth objectives. The company aims to leverage its strong foundation to expand its product offerings and enhance customer access to credit.

Conclusion

The appointment of Gaurav Maheshwari as CFO marks a pivotal moment for InCred Finance as it gears up for its IPO in late 2025. With strong financial performance, significant investor backing, and a focus on growth strategies, InCred is poised to make a substantial impact on the Indian financial services market. As it prepares for this next chapter, stakeholders will be keenly watching how these developments unfold and contribute to the company’s long-term success.

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Amazon India Launches At-Home Diagnostic Service, Expands Healthcare Ecosystem

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Amazon India has expanded its healthcare portfolio with the launch of Amazon Diagnostics, an at-home diagnostic testing service developed in partnership with Orange Health Labs. Now available in six major cities—Bengaluru, Delhi, Gurgaon, Noida, Mumbai, and Hyderabad—the service covers over 450 PIN codes and offers access to more than 800 diagnostic tests. Customers can book tests via the Amazon app, schedule home sample collection within 60 minutes, and receive digital reports for routine tests in as little as six hours, making healthcare more accessible and convenient than ever before.

This launch completes Amazon’s integrated healthcare suite in India, which already includes Amazon Pharmacy for medicines and Amazon Clinic for virtual doctor consultations. By bringing these services together under the Amazon Medical umbrella, the company enables a seamless outpatient journey—from doctor consultation to lab testing and medicine delivery—all managed through a single digital platform. The partnership with Orange Health Labs ensures high-quality, reliable diagnostics, supported by Amazon’s operational expertise and focus on customer trust.

Amazon’s entry into the $15 billion Indian diagnostics market signals a major shift in the country’s health-tech landscape, introducing new competition for established diagnostic players. Rather than competing solely on price, Amazon is prioritizing a seamless, trustworthy experience, aiming to address the growing demand for digital healthcare solutions and simplify access for millions of users across India.

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Bhavish Aggarwal’s Krutrim Unveils ‘Kruti’ — An Agentic AI Built for Bharat

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Kruti

Bengaluru, June 2025 – Krutrim, the AI startup founded by Ola’s Bhavish Aggarwal, has launched its new agentic AI assistant, Kruti. Unlike traditional virtual assistants, Kruti is designed with an Indian-first approach — combining cultural context, multilingual capabilities, and generative AI to offer a more intuitive, task-oriented experience for users.

Kruti is built to do more than just respond to queries — it can independently perform tasks, make decisions, and integrate across platforms for productivity and communication. Powered by Krutrim’s proprietary Indian-trained language model, it brings a deep understanding of local languages and digital behaviors, catering to both personal and business needs in the Indian ecosystem.

Aggarwal described Kruti as “India’s digital brain,” highlighting its role in redefining AI for Bharat. The assistant will be rolled out in phases, starting with enterprise partners and expanding through apps and APIs. As Kruti integrates into various platforms — including Ola’s services — it marks a significant stride in India’s ambition to lead the global AI race.

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Bankruptcy Forces BYJU’S to Offload Epic and Tynker for a Fraction of Acquisition Cost

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BYJU’S StartupStories

BYJU’S, once India’s most celebrated edtech startup, has sold its major US-based subsidiaries Epic and Tynker for a fraction of their original purchase prices, marking a dramatic reversal in its global expansion strategy. The distressed sales, approved by a US bankruptcy court on May 20, 2025, come amid the company’s ongoing financial and legal turmoil. Tynker, a coding education platform acquired by BYJU’S in 2021 for $200 million, was sold to CodeHS for just $2.2 million in cash, while Epic, a digital reading platform bought for $500 million in 2022, was acquired by China’s TAL Education Group for $95 million.

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