Magma Fincorp has received an approval for raising funds through issuance of equity shares, global depository receipts, American depository receipts, warrants or convertible securities (Securities) or a combination thereof for an amount not exceeding Rs 750 crore, as applicable, as the Board deems fit, to all eligible investors, by way of private placement including qualified institutional placement, issuance of ADR/ GDR/ FCCBs, etc. The board of directors at their meeting held on November 9, 2017 has approved for the same.
Magma Fincorp is a non-deposit taking NBFC registered with the Reserve Bank of India (RBI) as an asset finance company. It started operations two decades back and is now listed on Bombay Stock Exchange (BSE) and National Stock Exchange (NSE).
