Magma Fincorp is currently trading at Rs 75.00, up by 1.55 points or 2.11% from its previous closing of Rs 73.45 on the BSE.
The scrip opened at Rs 74.00 and has touched a high and low of Rs 75.00 and Rs 73.00 respectively. So far 4166 shares were traded on the counter.
The BSE group 'B' stock of face value Rs 2 has touched a 52 week high of Rs 103.00 on 21-May-2013 and a 52 week low of Rs. 62.00 on 26-Sep-2013.
Last one week high and low of the scrip stood at Rs 79.95 and Rs 72.50 respectively. The current market cap of the company is Rs 1418.30 crore.
The promoters holding in the company stood at 33.63% while Institutions and Non-Institutions held 56.69% and 9.69% respectively.
Magma Fincorp has received an approval for raising funds/ resources in one or more tranches up to an aggregate of Rs 500 crore by issuance of eligible securities and another sum not exceeding Rs 2,200 crore in one or more tranches. The board of directors at its meeting held on May 07, 2014 has approved for the same. The board has also delegated the authority to Committee of Directors to deal with all the matters connected thereto.
The company will raise funds by way of issuance of securities in the nature of non convertible debt securities, that is to say, secured debentures, unsecured debentures, bonds, subordinated debt securities, covered bonds, or other debt securities, whether constituting a charge (including in the nature of pledge) on any specific or general assets of the company or not and other applicable legislations, subject however to the approval of the shareholders and such other approvals and intimations/filings as may be required.
Magma Fincorp is a non-deposit taking non-banking finance company (NBFC), registered with the Reserve Bank of India (RBI) as an asset finance company. The company, having started operations over two decades back, is listed on the Bombay Stock Exchange and the National Stock Exchange in India.
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