PE-VC Fund Investments
Wealth mgmt player InCred Money raises Rs.250-Cr
Mumbai-based InCred Money , the wealth and asset management arm of InCred Group, has raised INR 250 crore (about USD 30 million) from a clutch of investors, including Manipal Group chairman Ranjan Pai, former Deutsche Bank executive Ram Nayak, Mankind Family Office, MMG Family Office, Ravi Pillai Family Office, Raj Vattikutti Foundation and others.Launched in May 2023 with the acquisition of Orowealth, InCred Money offers investment options across unlisted shares, fixed deposits, gold and silver.The fresh fundraising comes as InCred Holdings, the parent, is preparing for an IPO with an issue size of USD 460-560 million, including a INR 1,500 crore fresh issue and a INR 300 crore pre-IPO placement.
In Jan 2023, InCred acquired a 71% stake in Orowealth.
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