Magma Fincorp

Poonawalla Fincorp puts housing finance arm on the block: Sources

Sources suggest that the ask price for Poonawalla Housing Finance by the parent company is 3-times the net worth of the arm which was reported as Rs 1,100 crore in Sep-end 2022

Magma Fincorp share price locked in upper circuit after Adar Poonawalla acquires controlling stake in company

There were pending buy orders of 28,173 shares, with no sellers available.

Magma Fincorp Q1 Net Profit seen up 100% YoY to Rs. 75.4 cr: Emkay Research

Net Interest Income (NII) is expected to increase by 14.1 percent Y-o-Y (down 4.3 percent Q-o-Q) to Rs. 308.6 crore, according to Emkay Research.

Magma Fincorp plans to enter into co-branded credit card business

The company also announced the joining of Sanjay Miranka as its Group Chief Financial Officer (Group CFO) with immediate effect.

Magma Fincorp Standalone March 2021 Net Sales at Rs 434.70 crore, down 16.31% Y-o-Y

Magma Fincorp Consolidated March 2021 Net Sales at Rs 572.84 crore, down 6.14% Y-o-Y

Magma Fincorp share rises 5% after shareholders approve Rs 3,456 crore share issue to Poonawalla firm, promoters

Magma Fincorp Limited and its subsidiaries shall be renamed and rebranded “Poonawalla Fincorp”, subject to regulatory approvals, it added.

Magma Fincorp and the financialisation of the Indian economy

The financial sector is growing in size and throwing up opportunities. Billionaires have been quick at spotting them

Five reasons why Indian billionaires are hurrying to buy NBFCs amid a pandemic

Till 2018, NBFC space was a booming business. The perception changed post the IL&FS collapse.

Exclusive interview | Magma Fincorp is a full package; we welcome regulations that will help NBFCs stay disciplined: Adar Poonawalla

Adar Poonawalla of Serum Institute of India speaks about his group’s NBFC interest, the rationale of the Magma Fincorp acquisition, RBI’s discussion paper for the segment and much more.

Magma Fincorp spikes 10%, hits 52-week high as Adar Poonawalla's Rising Sun eyes majority stake

Following the preferential issue, Rising Sun Holdings would be classified as the promoter of MFL. MFL and its subsidiaries shall be renamed and rebranded under the brand name “Poonawalla Finance”, subject to regulatory approvals.

Adar Poonawalla-backed firm to acquire majority stake in Magma Fincorp for Rs 3,456 crore

The new firm will be called Poonawalla Finance.

Magma Fincorp Consolidated December 2020 Net Sales at Rs 589.33 crore, down 3.24% Y-o-Y

Magma Fincorp Standalone December 2020 Net Sales at Rs 454.66 crore, down 12.3% Y-o-Y

Hold Magma Fincorp; target of Rs 31: Emkay Global Financial

Emkay Global Financial recommended hold rating on Magma Fincorp with a target price of Rs 31 in its research report dated August 10, 2020.

Magma Fincorp Standalone June 2020 Net Sales at Rs 473.65 crore, down 15.27% Y-o-Y

Magma Fincorp Consolidated June 2020 Net Sales at Rs 565.88 crore, down 10.36% Y-o-Y

Hold Magma Fincorp; target of Rs 22: ICICI Securities

ICICI Securities recommended hold rating on Magma Fincorp with a target price of Rs 22 in its research report dated June 19, 2020.

Magma Fincorp Standalone March 2020 Net Sales at Rs 519.43 crore, down 8.42% Y-o-Y

Magma Fincorp Consolidated March 2020 Net Sales at Rs 610.32 crore, down 1.57% Y-o-Y

Magma Fincorp posts Q4 net loss of Rs 35.51 crore

Income during the March quarter of 2019-20 fell to Rs 617.62 crore from Rs 631.12 crore in the same period of the preceding fiscal.

Magma Fincorp share price dips nearly 5% after ICRA revises outlook

The assigned ICRA AA- negative rating to the term loans (bank) of the subsidiary company.

Magma Fincorp raises Rs 350cr via private placement of NCDs

This investment by FMO, a Dutch Entrepreneurial Development Bank is under Voluntary Retention Route (VRR) for investment in the country's debt by FPI.