New Delhi, Fintech unicorn <keyword id="19944449" type="General" weightage="20" keywordseo="incred" source="keywords">InCred</keyword> on Wednesday reported 132 per cent growth in profit before tax to Rs 298 crore in the third quarter of the current fiscal year (FY24), from Rs 129 crore in the corresponding period last year. InCred Finance's core loan book witnessed 55 per cent growth (on-year), crossing Rs 8,000 crore in Q3 FY24. The cost-to-income ratio saw a healthy decline from 56 per cent to 44 per cent. InCred has been valued at $1.04 billion and became the second company to gain the unicorn status last year. "The impressive growth in our profitability is a testament to our 'Risk First' ethos, our best-in-class product delivery, and the commitment of our 1,600+ InCredibles spread across the country," said <keyword id="20317479" type="General" weightage="20" keywordseo="bhupinder-singh" source="keywords">Bhupinder Singh</keyword>, Founder and Group CEO, InCred. InCred's equity investors include KKR, ADIA, TRS, OAKS, INVESTCORP, Moore Capital, Elevar Equity, <keyword id="19960529" type="General" weightage="20" keywordseo="ranjan-pai" source="keywords">Ranjan Pai</keyword> and <keyword id="20317478" type="General" weightage="20" keywordseo="gaurav-dalmia" source="keywords">Gaurav Dalmia</keyword>, etc. Incred had posted Rs 109 crore in profit in FY23 as compared to Rs 31 crore in FY22, a more than 3.5 times growth. Last December, the fintech lender became India's second unicorn of 2023 (the other being quick commerce startup Zepto) after raising $60 million from new and existing investors. <keyword id="20112130" type="General" weightage="20" keywordseo="incred-wealth" source="keywords">InCred Wealth</keyword>, the wealth management subsidiary of InCred, led the funding round with investing $36.76 million, followed by MEMG Family Office at $9 million.

Fintech unicorn InCred reports 132% growth in profit in Q3 FY24

Singapore-based investment firm <keyword id="6367519" type="General" weightage="80" keywordseo="temasek" source="Orion">Temasek</keyword> will acquire an additional 41 per cent stake in <keyword id="533812" type="General" weightage="100" keywordseo="manipal-health-enterprises" source="Orion">Manipal Health Enterprises</keyword>, to take majority control of the Bengaluru-based firm, as per a joint statement issued by the entities on Monday. The companies did not share financial details of the deal. Sources, however, said Temasek stake buyout would be for over Rs 16,300 crore valuing Manipal Health Enterprises (MHE) at around Rs 40,000 crore, making it the largest deal in the Indian healthcare sector. Following the closing of the transaction, <keyword id="6379586" type="General" weightage="50" keywordseo="manipal-group" source="Orion">Manipal Group</keyword> will hold about 30 per cent in Manipal Health Enterprises. Sheares Healthcare Group, a wholly-owned subsidiary and independently-managed portfolio company of Temasek, will retain its existing 18 per cent stake, it said. Besides, global alternative asset management firm <keyword id="6367884" type="General" weightage="80" keywordseo="tpg" source="Orion">TPG</keyword>, which first invested in MHE through TPG Asia VI in 2015, will fully exit. But, TPG will hold an interest of 11 per cent in the healthcare chain, through its new Asia fund - TPG Asia VIII, it added. National Investment &amp; Infrastructure Fund (NIIF) will exit its holding from MHE, the statement said. "We are very glad for Temasek's acquisition of a significant stake in Manipal Health Enterprises and its support to the management team in building out the platform to its full potential," Manipal Group Chairman <keyword id="354291" type="General" weightage="50" keywordseo="ranjan-pai" source="Orion">Ranjan Pai</keyword> said in a statement. Investing in healthcare requires a long-term outlook as well as a sensitivity to social responsibility, he noted. "I am glad that we have partners like Temasek and TPG who resonate with these values and will continue to be a part of the journey ahead. "I am also grateful to NIIF who partnered with us at a critical juncture, at the peak of the Covid-19 pandemic and supported us as we continued to provide high-quality healthcare," Pai added. Headquartered in Bengaluru, Manipal Hospitals currently serves over fifty lakh patients a year through its network of 29 hospitals. SEE ALSO: <a href="https://www.businessinsider.in/tech/news/most-common-passwords-can-be-easily-cracked-by-ai-in-under-a-minute/articleshow/99379900.cms">AI chatbots are cracking the code: How PassGAN can break into 51% of common passwords in under a minute</a> <a href="https://www.businessinsider.in/tech/news/google-makes-it-easier-for-users-to-delete-their-account-and-data-from-applications/articleshow/99289621.cms">Google makes it easier for users to delete their account and data from applications</a> <a href="https://www.businessinsider.in/business/news/ipl-2023-to-drive-fantasy-sports-companies-to-2900-3100-crore-revenue/articleshow/99285556.cms">IPL 2023 to drive fantasy sports companies to ₹2,900-3,100 crore revenue, fueled by Tier-2 cities and exciting prizes</a>

Temasek to buy additional 41% stake in Manipal Health Enterprises for ₹16,300 crore

<ul><li>The Supreme Court today delivered a verdict on the decades-long Ayodhya dispute — Ram Janmabhoomi-Babri Masjid. </li><li>The apex court, in a unanimous judgement, gave the land to a government trust which will aid the construction of a <keyword id="42499" type="PERSON" weightage="20" keywordseo="Ram-Mandir">Ram Mandir</keyword>. The Waqf board was allotted five acres of land at a prominent place in Ayodhya. </li><li><keyword id="46425" type="PERSON" weightage="20" keywordseo="Anand-Mahindra">Anand Mahindra</keyword>, chairman of Mahindra Group took to twitter to applaud the ‘process of justice.’ </li><li>Former CFO of Infosys, Mohandas Pai welcomed the historic judgement calling it a ‘justice to India, Indians, our constitution and Hindus’. </li></ul>The Supreme Court today delivered a verdict on the historic dispute on Ram Mandir, <keyword id="43572" type="COMPANY" weightage="20" keywordseo="Babri-Masjid">Babri Masjid</keyword> and Ayodhya. The apex court, in a unanimous judgement, allotted the land to a government trust which will oversee the construction of a Ram mandir on the disputed land. The Waqf board was allotted five acres of land at a prominent place in Ayodhya. Within the next three months, the centre will appoint board of trustees and the 2.77-acre complex will be handed over to the trust. Prime Minister Narendra Modi said that the <keyword id="399476" type="PERSON" weightage="20" keywordseo="Ayodhya-verdict">Ayodhya verdict</keyword> said that the verdict will reaffirm the independence, transparency and far-sightedness of the judiciary. Political and corporate leaders alike welcomed the decision. Anand Mahindra, Chairman, Mahindra Group took to Twitter to applaud the ‘process of justice’. “What extraordinary courage it required to be on this bench &amp; what incredible application of mind it must have taken to reach a conclusion,” he tweeted. <div type="twitter" handle="anandmahindra" handlename="anand mahindra" image="http://pbs.twimg.com/profile_images/1053583782584807425/-7IRmY5u_normal.jpg" favoritecount="15679" retweetcount="2352" status="5 men. A decision that 1.3bn people were awaiting. What extraordinary courage it required to be on this bench &amp; wha… https://t.co/hzNJ4npKZu" createdat="1573282376000" id="1193058875370426368"></div>

 Former director of Infosys Mohandas Pai welcomed the historic judgement calling it a “justice to India, Indians, our constitution and Hindus. The sword in the heart of Indian civilization has been removed!” <div type="twitter" handle="TVMohandasPai" handlename="Mohandas Pai" image="http://pbs.twimg.com/profile_images/563397282020618240/BsxVmVtk_normal.jpeg" favoritecount="4123" retweetcount="1002" status="SC has done justice to India,Indians, our constitution and Hindus:The sword in heart of Indian civilization has bee… https://t.co/22MM94x8F2" createdat="1573278751000" id="1193043671970504704"></div>

 Indian author Chetan Bhagat thanked the Supreme Court and the Hindu-Muslim communities for their patience. “Thank you SC. Thank you to the entire Muslim community for your grace and generosity. Thank you to the Hindu community for their patience. India remains intact, as does the birthplace of Ram. Jai Shri Ram,” he tweeted. <div type="twitter" handle="chetan_bhagat" handlename="Chetan Bhagat" image="http://pbs.twimg.com/profile_images/1029242665705992192/nQqnqCUG_normal.jpg" favoritecount="11611" retweetcount="1164" status="Thank you SC. Thank you to the entire Muslim community for your grace and generosity. Thank you to the Hindu commun… https://t.co/duH54UT3uj" createdat="1573282050000" id="1193057507352072193"></div>
 Photographer and producer Atul Kasbekar’s reaction was rhetoric. “I hope that as the very famous AK once famously said, ‘All izz well’” he said. <div type="twitter" handle="atulkasbekar" handlename="atul kasbekar" image="http://pbs.twimg.com/profile_images/1157383172436430849/pE8z0HR3_normal.jpg" favoritecount="148" retweetcount="6" status="Chalo it’s done Move along now everyone And for my country’s sake, I hope that as the very famous AK once famousl… https://t.co/pqTcYvfp1O" createdat="1573279757000" id="1193047890605879297"></div>

All the celebrities who have welcomed the Supreme Court verdict on Ayodhya dispute

<ul><li>India has 119 people who donated more than ₹5 crore in FY23, and they gave away ₹8,445 crore.</li><li><keyword id="3820" type="General" weightage="20" keywordseo="mukesh-ambani" source="Orion">Mukesh Ambani</keyword> is the third most generous man in India but his outgo fell by 8% as compared to last year.</li><li>Gautam Adani gave 50% more than what he did last year to become India’s fifth most generous man.</li><li>The top 10 list of most generous billionaires has two Nilekanis – Nandan and his wife Rohini. </li></ul>Tech billionaires like <keyword id="44903" type="General" weightage="20" keywordseo="shiv-nadar" source="Orion">Shiv Nadar</keyword> of HCL Technologies and Wipro’s <keyword id="6419840" type="General" weightage="20" keywordseo="azim-premji" source="Orion">Azim Premji</keyword> are a cut above the rest with their philanthropy – with size and scale. But young guns like Kamath brothers of Zerodha too are charting their own path by bringing in personal wealth and new causes like climate and sustainability, as per EdelGive Hurun India Philanthropy List 2023. Nadar retained his title as the most generous billionaire in India. He and Premji are only two billionaires who donated over ₹1,000 crore in FY23. Most of Nadar’s philanthropic endeavours, who gave away ₹5.6 crore per day, are centred around arts and culture. In fact, Nadar’s generosity is more than that of eight of his counterparts put together in the top 10 list, that includes India’s richest man, Mukesh Ambani. Premji is India’s second most generous man and his contributions went by 267% as compared to last year. “This is attributed to a significant 400% rise in dividend payouts by Wipro in FY23. An innovative strategy employed by Premji enables the trusts to benefit monetarily from the shares, while Premji retains the voting rights,” says Hurun. India’s richest man’s philanthropic outgo falls Mukesh Ambani is the third more generous man in India as he donated ₹376 crore in 2023, but his outgo fell by 8% as compared to last year. Meanwhile, Gautam Adani has seen huge wealth destruction in 2023 and conceded the richest man in India tag to Ambani. Yet, his generosity expanded. He is India’s fifth most generous man, donating ₹285 crore – and his philanthropic outgo went up by 50% since last year. He also moved up two places in the top ten list. Bajaj family also expanded its hearts and wallets — by 234%, to debut on the list this year. Cumulatively the top 10 philanthropists in India, donated ₹5,806 crore in FY23, as against a combined donation of ₹3,034 crore the year before. Apart from <keyword id="310580" type="General" weightage="50" keywordseo="nandan-nilekeni" source="Orion">Nandan Nilekeni</keyword>, his wife <keyword id="5830274" type="General" weightage="50" keywordseo="rohini-nilekeni" source="Orion">Rohini Nilekeni</keyword> also made it to the top 10 and their cause is also unique — ecosystem building. The list compiled 119 who donated over ₹5 crore in FY23, with 25 new entrants. They cumulatively donated ₹8,445 crore – up 59% compared to last year, and 200% compared to three years back. “Wealth creation is important for economic development, while philanthropy is equally important for economic prosperity. This year is a record year for big philanthropy. Given India's potential for wealth creation and assuming a continued commitment to philanthropy by billionaires, I anticipate these figures to potentially double over the next five years,” said Anas Rahman Junaid, MD and chief researcher, Hurun India. In the past five years, the number of donors contributing over ₹100 crore has surged from two to 14, and those donating over ₹50 crore has risen from five to 24. Top 10 EdelGive Hurun India Philanthropy List 2023 <table style="border-width: initial; border-style: none;" class="redcator-table-advance"><colgroup></colgroup><col /><col /><col /><col /><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Rank </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Name </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Amount donated </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">YoY change </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Shiv Nadar &amp; family </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹2,042 cr </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">76% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Azim Premji &amp; family </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹1,774 cr </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">267% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">3 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Mukesh Ambani &amp; family </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹376 cr </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-8% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">4 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Kumar Mangalam Birla &amp; family </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹287 cr </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">18% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">5 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Gautam Adani &amp; family </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹285 cr </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">50% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">6 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Bajaj family </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹264 cr </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">234% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">7 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Anil Agarwal &amp; family </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹241 cr </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">46% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">8 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Nandan Nilekani </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹189 cr </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">19% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">9 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Cyrus S Poonawalla &amp; Adar Poonawalla </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹179 cr </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">60% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">10 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Rohini Nilekani </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹170 cr </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">41% </td></tr></tbody><tbody></tbody></table>Source: Hurun Young &amp; ‘personally generous’ The list has 24 people who donated in their personal capacity – and it has the usual suspects like Nadar, Premji and Nilekenis. But it has surprises too. Zerodha’s Nithin Kamath and Nikhil Kamath donated over ₹110 crore in their personal capacity with most of these funds going towards climate and sustainability. At 44 and 37 respectively, they’re also one of the youngest in the list. Manipal’s Ranjan Pai who is 50 years old donated 92 crore, towards education. The average age of India’s most generous philanthropists remains 60. Pai’s allocation went up 512% in the last one year. The other notable names amongst who donated their personal wealth are — A M Naik of L&amp;T who donated ₹150 crore; Sushmita and <keyword id="56651" type="General" weightage="50" keywordseo="subroto-bagchi" source="Orion">Subroto Bagchi</keyword> of Mindtree and Infosys’ Kris Gopalakrishnan and family. M A Yusuf Ali of Lulu Group also donated more in their personal capacity, and his allocation went up by 350% in FY23. “Cumulative personal donations have increased by 60% to reach ₹4,958 crore, constituting 70% of the total donations in the list. I am incredibly enthusiastic about the surge in personal philanthropy in India,” Junaid. In general, companies are also spending more as a part of corporate social responsibility (CSR). CSR spending of BSE 200 companies has been growing at a compounded annual growth rate (CAGR) of 15% in the last nine years. Their cumulative CSR spend grew from ₹5,561 crore FY15 to ₹12,271 crore in FY23. “Government, civil society, and the corporate are the three distinct pillars sustaining the nation-building process. CSR is moving away from cheque book charity donations to a more long-term strategic engagement,” Hurun says.

Shiv Nadar is India’s most generous billionaire but young guns have their hearts in the right place

<ul><li>The two businesses will now operate under <keyword id="4328684" type="General" weightage="20" keywordseo="incred-finance" source="Orion">InCred Finance</keyword>’s brand names.</li><li>The duo believes that the merger would create a “leading” NBFC.</li><li>KKR India Financial Services is a subsidiary of Reliance Jio’s investor KKR.</li></ul><keyword id="4331504" type="General" weightage="20" keywordseo="incred" source="Orion">InCred</keyword> Financial Services and KKR India Financial Services (KIFS), on Tuesday, announced that they have completed the merger of their lending businesses. A deal to merge the non-bank lending business of these two entities was announced in August last year. The two businesses have been engaged in extended talks for over a year before sealing the deal. The merged business will now operate under the name of InCred Finance, with a balance sheet of $600 million and an equity base of $300 million. “The strategic partnership with KKR significantly accelerates our ability to deliver our class leading offerings at a large scale and to capitalize on the enormous credit opportunity in India,” said Bhupinder Singh, founder and CEO of InCred Group. Singh, who founded InCred in 2016 to provide tech-enabled loans to MSMEs, consumers and even education loans – will also lead the new merged entity. The duo believe that the merger would create a leading Indian non-banking finance company (NBFC). “This merger combines the strengths of InCred Finance and KIFS to create a market-leading lending platform with the enhanced resources and expertise to meet the diverse funding needs of Indian customers. KKR is pleased to remain involved with the business as a strategic partner,” Gaurav Trehan, partner and CEO of KKR India, added. KKR India Financial Services is a subsidiary of global investment firm KKR, which is an investor in Reliance’s Jio Platforms, Reliance Retail, Max Healthcare, LivSpace, JB Chemicals &amp; Pharmaceuticals and more. The lending subsidiary is focused on wholesale or corporate loans. InCred Finance was founded by Singh in 2016. It offers loans to customers, businesses and students through both online and offline mediums. The company claims that its loan book is already touching $500 million in a span of seven years. InCred has raised close to $300 million to date. It counts INVESTCORP, OAKS, Moore Capital, Elevar Equity, Paragon Partners, Cantor Fitzgerald’s Anshu Jain, Manipal Education and Medical Group’s Ranjan Pai, and Dalmia Group Holdings’ Gaurav Dalmia as investors. SEE ALSO <a class="tout-title-link" href="https://www.businessinsider.in/finance/banks/news/rbi-governors-recipe-for-banks-of-the-future-oodles-of-social-media-new-tech-a-dash-of-human-touch/articleshow/93138812.cms">RBI governor’s recipe for banks of the future: Oodles of social media, new tech &amp; a dash of human touch</a> <a href="https://www.businessinsider.in/business/ecommerce/news/e-commerce-platform-shopify-lays-off-1000-employees/articleshow/93151446.cms">E-commerce platform Shopify lays off 1,000 employees</a> <a href="https://www.businessinsider.in/business/news/indias-newly-digitized-msmes-need-offline-marketing-as-much-as-online/articleshow/93138395.cms">India’s newly digitized MSMEs need offline marketing as much as online</a>

InCred, KKR India Financial Services complete merger, hope to become a ‘leading’ NBFC

No single factor can make a man successful and rich. Opportunities, acumen and luck will have to play together to decide the professional as well as financial success of an individual. Becoming a successful businessman and a rich fellow in young years is no simple achievement. Here is a list of <keyword id="7699394" type="UNKNOWN" weightage="20" keywordseo="Top-10-young-businessmen">top 10 young businessmen</keyword> in India. 1. Vijay Shekar Sharma 
 
 
 <div type="image" title="Vijay Shekhar Sharma, founder of Paytm&amp;#39;s parent One97 Communications, speaks during the launch of a Citibank and Paytm credit card in Mumbai" msid="69572442" hostid="261" caption="&amp;lt;p&amp;gt;Vijay Shekhar Sharma, founder of Paytm&amp;#39;s parent One97 Communications, speaks during the launch of a Citibank and Paytm credit card in Mumbai, India, May 14, 2019. REUTERS/Francis Mascarenhas&amp;lt;/p&amp;gt;"></div>







 Aged 40 years, Vijay Shekar Sharma is the youngest awe inspiring businessman in India. With a net worth of $2.15 billion, he is the founder of Paytm, the mobile wallet concept. Following demonetization, Paytm notched about 300 million users and 12 million transactions in a day. 2. Shamsheer Vayalil 
 
 
 <div type="image" title="4-Dr-Shamsheer-Vayalil" msid="69572469" hostid="261" caption="&amp;lt;p&amp;gt;Arabian Business&amp;lt;/p&amp;gt;"></div>







 At an age of just 42, Shamsheer Vayalil has a net worth of $1.54 billion. Born in a business family in Kerala, he started just one hospital in Abu Dhabi with the support of his wealthy father-in-law. Today he owns a network of hospitals under the brand name VPS Healthcare besides the Rockland Hospital Chain in Delhi. 3. Sameer Gehlaut 
 
 
 <div type="image" title="Capture" msid="69572533" hostid="261"></div>







 With a net worth of $4.2 billion, the 45 year old Sameer Gehlaut created the Indiabulls Housing Finance which is the second biggest mortgage lender in the nation. Starting the online brokerage firm Indiabulls in 1999, Gehlaut eventually swept the real estate industry of Mumbai thereby raising his fortune to great heights. 4. Acharya Balkrishna 
 
 
 <div type="image" title="46F4B665-457D-40F2-B809-459847036970" msid="69572534" hostid="261"></div>







 Aged 46 years, with a net worth of $4.8 billion, Acharya Balkrishna gets his fortune from the consumer goods giant Patanjali Ayurved. Owning 98.6% stake in this company, he has steered the growth of this firm to make an annual revenue of $1.6 billion. 5. Ranjan Pai 
 
 
 <div type="image" title="7717F5B4-60EB-44A3-9327-CD1BB85276B3" msid="69572535" hostid="261"></div>







 At an age of 46, Ranjan Pai has created a net worth of $1.6 billion. He controls the Manipal Group which owns six college and 16 hospitals doing a phenomenal job in the education and healthcare sectors. The group’s Manipal University has moe than 100,000 students and the overseas campuses are located in Malaysia, Antigua, Dubai and Nepal. 6. Vikas Oberoi 
 
 
 <div type="image" title="Capture" msid="69572604" hostid="261"></div>







 The sixth youngest businessman in the list, Vikas Oberoi has a net worth of $1.8 billion at his 48th year. He controls the Oberoi Realty based in Mumbai. The firm is popular for its high end condos built in the suburban areas. He is at present creating a mall, hotel and full serviced apartments in Mumbai. 7. Kumar Birla 
 
 
 <div type="image" title="Mumbai: Aditya Birla Group Chairman, Kumar Mangalam Birla, announces the signing..." msid="69572569" hostid="261" caption="&amp;lt;p&amp;gt;Aditya Birla Group Chairman, Kumar Mangalam Birla, announces the signing of a definitive agreement to purchase Aleris Corporation, in Mumbai on Thursday, July 26, 2018.Photo)&amp;lt;/p&amp;gt;"></div> At an age of 51 years, Kumar Birla has made a net worth of $12.5 billion. The head of <keyword id="44373" type="COMPANY" weightage="20" keywordseo="Aditya-Birla-Group">Aditya Birla Group</keyword> reported with $44.3 billion, the group is a top player in the cement, aluminum and telecom domains. Kumar Birla inherited his fortune from his father Aditya Birla upon his death in 1995. 8. Sridhar Vembu 
 
 
 <div type="image" title="1_oLT5ALK5TcTh1JezHRk44Q." msid="69572643" hostid="261"></div>







 The 51 years old Sridhar Vembu has a net worth of $1.56 billion. He is the owner of the private firm Zoho the manufacturer of cloud based software for businesses. With its 35 million users across the world, the company champions about 40 flagship apps. 9. Kalanithi Maran The 53 years aged Kalanithi Maran has a net worth of $3.75 billion. Son of a famed politician in Tamil Nadu, Kalanithi Maran is the mastermind behind the Sun TV Network started in 1993. Today this is a favorite channel for over 95 million households. The TV is also reaching 27 countries worldwide. 10. Jitendra Virwani Jitendra Virwani is the tenth youngest businessman in India aged 53 years and reporting a net worth of $ 2.35 billion. Based in Bengaluru, his Embassy Property Development Park is the biggest office parks developer in Bengaluru. The company has some prestigious multinational tenants like Google, IBM and Warburg Pincus.

Meet Top 10 Young Businessmen In India

<ul><li><keyword id="2900267" type="PERSON" weightage="20" keywordseo="Byju">Byju</keyword>’s raised funds from General Atlantic, Tiger Global to be valued at a whopping $8.2 billion. </li><li>It also gave partial exit to the Chan Zuckerberg Initiative, Times Internet and Sequoia. </li><li>Here’s a breakdown of how Byju’s has seen phenomenal growth over the years.</li></ul>In 2011, a 29-year old <keyword id="1702989" type="PERSON" weightage="20" keywordseo="Byju-Raveendran">Byju Raveendran</keyword> cracked the Common Admission Test (CAT) with 100 percentile, but didn’t join an IIM. What he did instead was build an online tutoring company. Today, the unicorn startup worth $8.2 billion, with Bollywood superstar Shahrukh Khan as its brand ambassador. Founded by Byju and his wife Divya Gokulnath, Byju’s recently raised $200 million from the private equity firm General Atlantic. Last year, Byju became the <a href="https://www.businessinsider.in/thelife/personalities/news/byju-raveendran-is-newest-and-youngest-face-on-the-forbes-list-of-100-richest-indians/articleshow/71537667.cms">newest face</a> in the Forbes Billionaire list, with a net worth of $1.9 billion. <div type="javascript" title="Custom" contenttype="Image"><cdata><![CDATA[
<div class="flourish-embed" data-src="visualisation/1391076"><script src="https://public.flourish.studio/resources/embed.js"></script></div>
]]></cdata></div>

 2013 Byju’s first funding in 2013 came from Aarin Capital, which is run by Ranjan Pai and Mohandas Pai. It was a series A funding. 2015 The next round saw the entry of Sequoia Capital. Byju’s raised the Series B round at $25 million. Later in the same year, it launched the Byju’s app. 2016 In 2016, Byju’s raised four rounds of funding, quickly rising in the valuation charts. It raised money from Sequoia, Innoven Capital, Sofina Group, Times Internet and the International Finance Corporation, which is a World Bank Group. In the same year, <keyword id="6354630" type="PERSON" weightage="20" keywordseo="mark-zuckerberg">Mark Zuckerberg</keyword> and Priscilla Chan’s funding arm – Chan Zuckerberg initiative led a $50 million round and boost the startup’s value to $462 million. 2017 Verlininvest, a family office based in Brussels, came on the board of Byju’s. Its valuation touched $600 million. In the meanwhile its growth with 300,000 annual paid subscribers helped turn it into a case study in Harvard. In the same year, Byju’s signed Shahrukh Khan as its brand ambassador. Its reported valuation was at $800 million. <div type="image" title="byju srk" msid="74132869" hostid="261"></div>

 2018 In 2018, Byju’s turned into a unicorn – becoming the first edtech company to achieve it in India. With its valuation crossing $1 billion, the startup becoming the 11th unicorn of the country in all. It received funding from General Atlantic, Naspers, and Tencent. 2019 This year turned out to be another milestone for Byju’s – it turned profitable. The startup <a href="https://tech.economictimes.indiatimes.com/news/internet/byjus-claims-to-have-tripled-its-revenues-to-rs-1430-crore-in-fy19/69583803">reported</a> that its revenue has tripled to reach ₹14.3 billion in the financial year ending March 2019. These swollen revenues come at the back of increase in its paid user base, which stood at 2.4 million. The number doubled from 2018, when it was 1.26 million. In 2019, Byju’s also secured an investment of $150 million from Qatar Investment Authority and Owl Ventures. According to reports, Byju’s was valued at $5.7 billion. “Indian ed-tech firms attracting interest from eminent investors demonstrates that India is pioneering the digital learning space globally. High adoption and 85% annual renewal from small towns and cities shows increasing acceptance of digital learning as a primary tool for learning at home,” said Byju Raveendran, founder and CEO, Byju’s had then said in a statement. In 2019, Byju also became a billionaire – to enter the Forbes Billionaires list. 2020 Come 2020, and Byju’s raised funds from General Atlantic, Tiger Global to be valued at a whopping $8.2 billion. A statement from the <a href="https://www.techinasia.com/indian-edtech-firm-byjus-valued-us82-billion">company said</a> that Byju’s is on track to earn a little more than $420 million by the end of March 2020. Through the latest rounds, the Chan Zuckerberg initiative took home ₹167.7 crore through a partial exit. The fund’s investment of ₹22.86 crore in September 2016 is now worth at least seven times more. The same deal also gave handsome returns to Sequoia, Times Internet and SCHF PV Mauritius. See Also: <a href="https://www.businessinsider.in/thelife/personalities/news/byju-raveendran-is-newest-and-youngest-face-on-the-forbes-list-of-100-richest-indians/articleshow/71537667.cms">Byju Raveendran is the newest face on the Forbes list of 100 richest Indians</a>

The funding chart of Byju’s – the startup that gave Mark Zuckerberg a 7X return on investment and is worth $8 billion

<img class="gwt-Image" src="/photo/50928543.cms" />As popularity of startups is growing and they are turning into million dollar firms, family-run businesses are diverting their focus to greenhorns. 
 Family owned top businesses are focusing on technology and consumer internet sectors and investing through directly, through <keyword id="6357097" type="COMPANY" weightage="20" keywordseo="venture-capital">venture capital</keyword> firms, and even venture debt. 
 
For instance, Aarin Capital of Manipal Group scion Ranjan Pai and TV Mohandas Pai and Unicorn India Ventures funded the pre-Series A round in news and events startup Inc42. 
 
As per reports, Mohandas Pai is also creating up a Rs 100-crore family office fund that can invest in tech-focused startups. 
 "People are embracing the change, and more so because traditional asset classes are not giving the returns of old. Some of the family offices will be investing a lot more because, one, they don't want to miss out, and also because the (startup) ecosystem is maturing rapidly," Sanjeev Krishan, transaction services and <keyword id="34499" type="POSITION" weightage="20" keywordseo="private-equity">private equity</keyword> leader at PwC India, told ET. 
 
Experts say there is no dearth of wealth in India and what family businesses are looking for are good managers. 
 
(Image: Thinkstock)

You Searched For "ranjan pai" and got 9 results

Fintech unicorn InCred reports 132% growth in profit in Q3 FY24

IANS

Temasek to buy additional 41% stake in Manipal Health Enterprises for ₹16,300 crore

PTI

All the celebrities who have welcomed the Supreme Court verdict on Ayodhya dispute

BI India Bureau

Shiv Nadar is India’s most generous billionaire but young guns have their hearts in the right place

Katya Naidu

InCred, KKR India Financial Services complete merger, hope to become a ‘leading’ NBFC

Kritti Bhalla

Meet Top 10 Young Businessmen In India

BI India Bureau

The funding chart of Byju’s – the startup that gave Mark Zuckerberg a 7X return on investment and is worth $8 billion

Sanchita Dash

Indian family businesses are looking at startups to increase exposure

BI India Bureau

These 119 Indian billionaires are worth over $300 billion right now, according to Forbes

BI India Bureau