Adar Poonawalla To Take Over Magma Fincorp
Feb 10 2021, 8:54 PM
February 10 2021, 8:49 PM
February 10 2021, 8:54 PM
Adar Poonawalla-controlled Rising Sun Holdings Pvt. has agreed to take over majority shareholding in Mumbai-based non-bank lender Magma Fincorp Ltd.The transaction will be concluded through a preferential share allotment worth Rs 3,456 crore, according to an exchange filing by Magma Fincorp. The lender would be renamed to Poonawalla Finance.Magma Fincorp proposes to allot 45.8 crore shares to Rising Sun Holdings, and 3.57 crore share.
Adar Poonawalla-controlled Rising Sun Holdings Pvt. has agreed to take over majority shareholding in Mumbai-based non-bank lender Magma Fincorp Ltd.
The transaction will be concluded through a preferential share allotment worth Rs 3,456 crore, according to an exchange filing by Magma Fincorp. The lender would be renamed to Poonawalla Finance.
Read more about Adar Poonawalla to acquire 60% in Magma Fincorp for Rs 3,456-crore on Business Standard. As a part of deal, Magma will get fresh capital of Rs 3,456 crore
Future Lifestyle Fashions Ltd, Borosil Renewables Ltd, Magma Fincorp Ltd and IIFL Finance Ltd are among the other gainers in the BSE s A group today, 09 February 2021.
Future Lifestyle Fashions Ltd, Borosil Renewables Ltd, Magma Fincorp Ltd and IIFL Finance Ltd are among the other gainers in the BSE s A group today, 09 February 2021.
Balaji Amines Ltd soared 13.85% to Rs 1440.45 at 11:48 IST. The stock was the biggest gainer in the BSE s A group. On the BSE, 46257 shares were traded on the counter so far as against the average daily volumes of 13036 shares in the past one month.
Future Lifestyle Fashions Ltd surged 9.99% to Rs 91.35. The stock was the second biggest gainer in A group. On the BSE, 1.44 lakh shares were traded on the counter so far as against the average daily volumes of 58401 shares in the past one month.
Read more about Magma Fincorp Ltd leads gainers in A group on Business Standard. SKF India Ltd, Graphite India Ltd, Bajaj Electricals Ltd and MSTC Ltd are among the other gainers in the BSE s A group today, 08 February 2021.
Magma Fincorp to raise up to Rs 3,000 crore in FY22
The debt securities would be in the nature of secured/unsecured, subordinated debentures, and the capital will be raised through a private placement
PTI | February 7, 2021 | Updated 11:54 IST
Magma Fincorp operates through more than 295 branches in 22 states and a union territory and has a strong presence in rural and semi-rural India
Magma Fincorp Ltd on Saturday said its board of directors has approved raising up to Rs 3,000 crore through debt in the next fiscal year.
The board of directors at its meeting held on Saturday has approved issuance of debt securities in the nature of non-convertible debt securities for the financial year 2021-22 for an amount up to Rs 3,000 crore, it said in a regulatory filing.