Page 7 - Sanjay Chamria News Today : Breaking News, Live Updates & Top Stories | Vimarsana

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 Wednesday, the company will make a preferential allotment of Rs 3,456 crore by issuing 45.8 crore s...

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, Australia and Thailand are ruling with moderate losses. Overnight, the US markets closed on mixed tone...