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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 for preferential issue of equity shares of Magma Fincorp which will result in a controlling stake bein...
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 Story Fidelity Investments sold nearly all of its positions in GameStop Corp. last month, just as shares...
“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.