Rising Sun Holdings, controlled by Adar Poonawalla, will acquire a 60 percent stake in non-bank finance company (NBFC) Magma Fincorp by underwriting a prime issue of Rs 3,456 crore. After the capital infusion, Magma and its subsidiaries will be renamed and renamed Poonawalla Finance. Poonawalla Finance is an existing finance …
Read More »Adar Poonawalla to acquire 60% of Magma Fincorp for 3,456 crore rupees
