Poonawalla-led Rising Sun s acquisition of stake in Magma Fincorp gets CCI nod
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Adar Poonawalla s 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 Poonawalla s Rising Sun group of companies.
Adar Poonwalla-led Rising Star Holdings Private Ltd (RSHPL) has filed a combination notice with the Competition Commission of India (CCI) about its 60 per cent stake acquisition in financial services company Magma Fincorp Ltd.
As part of the deal, RSHPL will acquire 60 per cent stake in Magma Fincorp, while the non-banking financial company s promoter Sanjay Chamria and Mayank Poddar will acquire 4.68 per cent shareholding.