Poonawalla backed firm wants to buy additional 26% stake in Magma Fincorp
Wed, Feb 17, 2021 10:02 PM

Poonawalla backed firm wants to buy additional 26% stake in Magma Fincorp

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Adar Poonawalla-backed Rising Sun Holdings Pvt Ltd along with two other individuals have made an open offer to buy an additional 26% stake in non-banking financial company Magma Fincorp for a consideration of more than Rs 1,391 crore. At the beginning of the month, the Poonawalla Group and Magma Fincorp announced that the group will acquire a controlling 60% stake in the company.

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