NEW DELHI: InCred Capital Financial Services Private Limited (InCred Capital), the institutional and wealth arm of the InCred Group, announced the acquisition of Earnest Innovation Partners (EIP)- an Equity markets focused entity founded by Devesh Kumar, former India country head of Singapore headquartered CGS-CIMB.
The transaction will launch InCred Capital’s foray into the Equities business as EIP takes over the institutional equities franchise of CGS-CIMB in India.
“We understand from sources close to the transaction that in addition to institutional equities, InCred will use this base to also commence a Wealth broking business focused on the HNI segment,” according to a statement.
InCred Group was founded in 2016 by Bhupinder Singh. InCred Capital is focused on wealth and asset management, structured finance, debt and equity capital markets and investment banking