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Magma Fincorp gets shareholders nod for acquisition of controlling stake by Rising Sun Holdings Pvt. Ltd through Preferential Issue

Adar Poonawallas Rising Sun Holdings notifies CCI about Magma Fincorp deal The acquisition will enable RSHPL to achieve higher efficiencies in its existing businesses in the financial lending space as well as expand and diversify its operations in other business areas. BusinessToday.In | March 4, 2021 | Updated 22:49 IST Rising Sun Holdings is a part of Adar Poonawallas Rising Sun group of companies. Adar Poonwalla-led Rising Star Holdings Private Ltd (RSHPL) has filed a combination notice wit...

Magma Fincorp announced that India Ratings & Research has placed the companys bank loan ratings (IND AA-) under Rating watch Evolving(RWE). Ind-Ra is of the view that pursuant to public announcement on 10 February 2021, the Company had announced that its board has accepted a binding offer for an equity infusion of Rs 3460 billion by way of preferential allotment of equity shares to Rising Sun Holdings (RSHPL) an entity controlled by Adar Poonawalla) and its existing promoters (Sanjay Chamria an...

Adar Poonawalla-led firm makes open offer to buy additional 26% stake in Magma Fincorp Premium (MINT_PRINT) The open offer is to acquire up to 19,88,32,105 equity shares, constituting 26% of the expanded voting share capital at a price of ₹70 apiece On 10 February, two companies said that Rising Sun Holdings would acquire a 60% stake in Magma Fincorp by subscribing to a ₹3,456-crore preferential issue Share Via Read Full Story Adar Poonawalla- Rising Sun Holdings Pvt Ltd and two other ind...

Adar Poonawalla-controlled Rising Sun Holdings Pvt Ltd along with two other individuals have made an open offer to buy an additional 26 per cent stake in non-banking financial company Magma Fincorp for a consideration of more than Rs 1,391 crore. Earlier this month, the Poonawalla Group and Magma Fincorp announced that the group will acquire a controlling 60 per cent stake in the company by way of a Rs 3,456-crore-worth preferential issue of shares. Besides Rising Sun, Magma Fincorp will all...

An extraordinary general meeting (EOGM) of the members of Magma Fincorp will be held on Tuesday, March 9, 2021.

The stock markets on Thursday gave a thumbs up to the development, with the company stock rising almost 10 per cent to end at Rs 93.40 on the BSE

Stocks in the news | Bata India, Indraprastha Gas, Titan, Magma Fincorp, Majesco, Mawana Sugars Aurobindo Pharma, Bank of India, Titan Company, Ador Welding, Magma Fincorp, Entertainment Network India, Sadbhav Infrastructure Project, JB Chemicals are also among the stocks in focus today. Here is a list of stocks in the news today. Results today | ITC, Coal India, Power Grid Corporation, ACC, Ashok Leyland, Ashapura Minechem, Atul Auto, Bajaj Hindusthan Sugar, Bayer Cropscience, Bosch, ...

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 planni...

Read more about Magma Fincorp jumps 10% as Adar Poonawala to acquire 60% stake in firm on Business Standard. 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