Page 4 - Sanjay Chamria News Today

Adar Poonawalla (File photo) MUMBAI: Vaccine king Adar Poonawalla has acquired Magma Fincorp by investing in a fresh issue that will give him 60% control of the private lender and its affordable housing and insurance arms. The 32-year-old Magma Fincorp was founded by partners Sanjay Chamria and Mayank Poddar. It has a loan book of over Rs 15,000 crore including cars, commercial vehicles, used assets, SME finance and affordable housing. In terms of the transaction announced by the two groups on...

The shares of Magma Fincorp hit fresh highs on Thursday after Rising Sun Holdings Pvt Ltd controlled by Adar Poonawalla, CEO, Serum Institute of India announced its decision to acquire a 60 per cent s

Magma Fincorp Ltd., an Indian financier for vehicles and homes, surged to the highest in 19 months after the chief executive officer of the world’s biggest maker of vaccines said he’s buying control of the shadow lender.

Read more about Magma Fincorp hits the roof as Poonawalla-backed firm to acquire majority stake on Business Standard. Magma Fincorp hit an upper circuit of 10% at Rs 93.40 as Adar Poonawalla-controlled Rising Sun Holdings will acquire a controlling stake in the NBFC through preferential issue of equity shares.

February 11, 2021 Stocks likely to seek action today: Magma Fincorp, National Fertilizers and, Suprajit Engineering Nifty50 index is likely to open with a downward gap of 60 points on Thursday, as an indication from SGX Nifty points bearish signal. The SGX Nifty is ruling at 15,065 as against Nifty50 Feb futures Wednesday’s close of 15,119. Asia-Pacific markets remain range-bound with a mixed trend. While Japan’s benchmark indices and China eked out marginal gains, those of Hong Kong, Aus...

Adar Poonawalla-controlled Rising Sun Holdings has acquired a 60% stake in the non-banking financial company Magma Fincorp by subscribing to a Rs 3,456 crore preferential issue.

Read more about Magma Fincorp jumps 10% as Adar Poonawalla 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

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 fo...

Fidelity cashes in most of GameStop stake Premium GameStop soared almost eightfold in the last week of January as retail investors spurred on by Reddit forums and Discord chats piled into the stock, causing pain for professional hedge funds who had shorted the video game retailer’s shares. (REUTERS) . Updated: 11 Feb 2021, 01:34 PM IST The Wall Street Journal Firm sold nearly all positions in GameStop last month, ending run as volatile stock’s largest shareholder Share Via Read Full Stor...

“Entire capital and lending business will be in new Magma Fincorp entity, Poonawalla Finance will cease to exist in its current form…can grow at least at 20-25% over next 4-5 years, says Adar Poonawalla.