Page 2 - Magma Fincorp

Magma Fin up 5% as shareholders approve share issue to Poonawalla-led firm

The shareholders have approved the company's plan to raise up to Rs 3,456 crore by issuing preference equity shares to Adar Poonawalla-led firm

Magma Fincorp shareholders approve 60% acquisition by Poonawalla-led firm

The networth of the company will increase to over Rs 6,300 crore post the issuance

Analysts remain bullish on small-caps despite index hitting record high

Though there can be an intermittent correction, stock selection will be key, they say

Magma Fincorp locked in 5% upper circuit; stock zooms 114% in 2 weeks

Rating agencies, CARE and ICRA, placed the rating of the company's long/short term bank facilities on watch with developing implication

Magma Fincorp to seek shareholders nod for Rs 3,206 cr deal with Poonawalla

Magma Fincorp said it is holding an EGM next month to seek shareholders' approval to the preferential allotment of shares to Adar Poonawalla-controlled Rising Sun Holdings (RSHPL)

Poonawalla's buyout to aid Magma Fincorp's expansion plans: Analysts

With Poonawalla taking control and fortunes of Magma Fincorp (MFL) expected to change, investors rushed to buy the latter's shares which were locked in the 10 per cent upper circuit band

Magma Fincorp jumps 10% as Adar Poonawalla to acquire 60% stake in firm

Adar Poonawalla-controlled Rising Sun Holdings will acquire a 60 per cent stake in non-banking financial company by subscribing to Rs 3,456-crore preferential issue

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Adar Poonawalla to acquire 60% in Magma Fincorp for Rs 3,456-crore

As a part of deal, Magma will get fresh capital of Rs 3,456 crore

Adar Poonawalla-backed firm takes over Magma Fincorp in Rs 3,456 cr deal

The company, which has a fledgeling NBFC arm called Poonawalla Finance which lends mostly to professionals, said the acquisition will be done through a group company called Rising Sun Holdings

Magma Fincorp soars 45% in 3 days on improved collection efficiency in Q3

Magma Housing Finance has progressed in its action for raising capital, with the aim of accelerating growth in this segment amid strong demand

India Ratings takes 3 finance firms off rating watch negative list

MMFSL maintained sufficient liquidity buffers to make timely debt repayments, even when collections declined

Magma Fincorp expects to close FY19 with 20% growth in disbursals

Mumbai-based asset finance company Magma Fincorp expects to close the outgoing fiscal year with a 20 percent growth in disbursals as it comes out of the liquidity crunch that hit the shadow banking sector after IL&FS went belly up last September. The crisis of confidence in the NBFC sector has left the company, which is also into home loans, general insurance and SME funding, apart from its bread-and-butter vehicle financing, fighting higher credit cost that rose by 40-50 bps since the second quarter to 9.3-9.5 percent, but has since come down to around 20 bps in the March quarter, vice-chairman and managing director Sanjay Chamria said. This also had its impact on disbursals across the industry and Magma wasnt any exception as its asset base slipped marginally because the company could not pass on the entire spike in its funding cost to end consumers. Despite this, in the three months to December 2018, Magma, which is focused on rural and semi-urban markets with ...

Magma Fincorp raises Rs 5 billion through QIP; net worth surges 25%

Magma's net worth has increased approximately by 25%

Magma Fincorp hits record high post Q1 results

The stock hit a record high of Rs 185, surged 9% on BSE in intra-day trade.

Magma Fincorp plans Rs 6,000 cr disbursals in asset finance in FY18

I am confident that FY18 would be a good year," says Magma president and CEO Kaushik Banerjee

Magma Fincorp hits 52-week high post Q4 results

The stock rallied 9% to Rs 138 on BSE on back of heavy volumes

Magma Fincorp targets 15% growth in Uttar Pradesh

The Kolkata-based NBFC will focus on tractor finance, housing finance and used vehicle loans to fuel its growth

Chhattisgarh on priority in Magma Fincorp's expansion plan

The Kolkata-based company is targeting 20% growth in the central state of India in FY17