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Magma Fincorp soars 10% as Adar Poonawalla-led firm picks majority stake ​ By IANS | Published on ​ Thu, Feb 11 2021 11:21 IST | ​ 0 Views Growth chart. (File Photo: IANS). Image Source: IANS News Mumbai, Feb 11 : Shares of Magma Fincorp hit the 10 per cent upper circuit on Thursday as Adar Poonawalla-led Rising Sun Holdings Private Limited has acquired 60 per cent stake in the NBFC. Rising Sun Holdings Private Limited and Magma Fincorp Limited on Wednesday announced a transaction for preferential issue of equity shares of Magma Fincorp which will result in a controlling stake being taken by Rising Sun Holdings and an open offer as per Public Announcement made under SAST guidelines.

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