The Competition Commission of India (CCI) has approved the acquisition of shareholding in Mumbai-based non-banking finance company Magma Fincorp Limited by Rising Sun Holdings Private Limited and Sanj
ACUITE places Magma Fincorp Limited s NCD rating under watch with positive implication
Posted On: 2021-02-18 09:02:34 (Time Zone: Arizona, USA)
Magma Fincorp Limited s Unsecured Subordinated Redeemable Non-convertible Debentures (ACUITE AA) has been placed under watch with positive implication.
ACUITE is of the view that pursuant to announcement made by Magma regarding the proposed sale of a controlling 60% stake in the Company to Rising Sun Holdings Private Limited, an entity controlled by Mr. Adar Poonawalla, the CEO of Serum Institute of India. The expected equity infusion of Rs. 3456 crores in the Company Limited will strengthen the capital position of Magma and its subsidiaries in a very significant manner which in turn will help to enhance its business profile over the medium term. The rating also factors in healthy capitalisation levels marked by capital adequacy of 28% as on December 31, 2020 and a healthy liquidity profile of Magma on a consolidated basis supported
Magma Fincorp open offer from April 8 - The Hindu BusinessLine thehindubusinessline.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thehindubusinessline.com Daily Mail and Mail on Sunday newspapers.
Magma Fincorp share doubled in just 9 days, did you miss the rally?
Magma Fincorp share has risen 107.1% in nine days. On January 29, the small cap stock stood at Rs 45.10 on BSE
Aseem Thapliyal | February 11, 2021 | Updated 15:35 IST
Magma Fincorp stock opened 9.95% higher at Rs 93.40 today , a fresh 52-week high, against previous close of Rs 84.95 on BSE
Magma Fincorp share hit upper circuit of 10% in early trade today amid report that Adar Poonawalla-led firm Rising Star Holdings was planning to buy controlling stake in financial services company Magma Fincorp via an open offer.
With today s surge, Magma Fincorp share has risen 107.1% in nine days. On January 29, the small cap stock stood at Rs 45.10 on BSE.