Capital Gain

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

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Adar Poonawalla-controlled Rising Sun Holdings will acquire a 60 per cent stake in non-banking financial company (NBFC) Magma Fincorp by subscribing to a Rs 3,456-crore preferential issue. After the infusion of capital, Magma and its subsidiaries will be renamed and rebranded Poonawalla Finance. Poonawalla Finance is an existing finance company […]