Magma Fincorp has raised capital amounting to approximately Rs 500 crore at a price of Rs 155 per equity share through Qualified Institutional Placement (QIP). The allotment of equity shares in the QIP has been completed. With this capital raise, the company's Net Worth has increased around 25%.
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).
