Magma Fincorp shareholders approve 60% acquisition by Adar Poonawalla-led firm2 min read . Updated: 10 Mar 2021, 10:49 AM IST
The company, whose promoter shareholding is slated to be changed to Poonawalla group as per the deal announced earlier this year, will allot 45,80,00,000 preferential shares to RSHPL for a consideration of ₹3,206 crore.
Non-banking finance company Magma Fincorp Ltd (Magma) on Tuesday said its shareholders have approved the company's plan to raise up to ₹3,456 crore by issuing preference equity shares to Adar Poonawalla-controlled Rising Sun Holdings Ltd (RSHPL) and two members from the promoter group.
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