Go Ad-Free
    My Alerts
    Moneycontrol
    Moneycontrol PRO
    HomeNewsBusinessCompaniesMagma Fincorp to sell NPAs for Rs 600 crore

    Magma Fincorp to sell NPAs for Rs 600 crore

    The decision was taken by the Management Committee of the board of directors at a meeting held today, the company said in a regulatory filing.

    February 27, 2017 / 15:23 IST
       
       
      26 Aug, 2025 12:21
      Volume
      Todays L/H
      More

      Non-banking financial company Magma Fincorp today said it will sell its non-performing assets for about Rs 600 crore.

      The decision was taken by the Management Committee of the board of directors at a meeting held today, the company said in a regulatory filing.

      "The Management Committee of the board of directors of the company has approved sale of non-performing assets of the company in one or more tranches from time to time, up to a maximum total amount of Rs 600 crore," it said.

      The company offers car loans, SME loans, construction equipment loans, commercial vehicle loans, used vehicle loans as well as housing finance loans.

      Shares of Magma Fincorp was trading 0.63 percent higher at Rs 96.05 on BSE.

      first published: Feb 27, 2017 03:20 pm

      Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!

      Subscribe to Tech Newsletters

      • On Saturdays

        Find the best of Al News in one place, specially curated for you every weekend.

      • Daily-Weekdays

        Stay on top of the latest tech trends and biggest startup news.

      Advisory Alert: It has come to our attention that certain individuals are representing themselves as affiliates of Moneycontrol and soliciting funds on the false promise of assured returns on their investments. We wish to reiterate that Moneycontrol does not solicit funds from investors and neither does it promise any assured returns. In case you are approached by anyone making such claims, please write to us at grievanceofficer@nw18.com or call on 02268882347