Magma Fincorp rises 5% as shareholders approve preferential allotment to Adar Poonawalla-led firm SECTIONS Last Updated: Mar 10, 2021, 10:15 AM IST Share Synopsis Shareholders approved the company's plan to issue preference equity shares to Adar Poonawalla-controlled Rising Sun Holdings and two members from the promoter group. Agencies The Magma Fincorp scrip got locked in its 5% upper circuit limit at Rs 136.40 on BSE. Related NSE Explore Now NEW DELHI: The Magma Fincorp stock climbed 5 per cent on Wednesday after shareholders approved the NBFC's plan to raise up to Rs 3,456 crore by issuing preference equity shares to Adar Poonawalla-controlled Rising Sun Holdings and two members from the promoter group.