Magma Fincorp has raised Rs 350 crore by way of Non- Convertible Debentures (NCDs) from Nederlandse Financierings Maatschappij Voor Ontwikkelingslanden N.V. (FMO), a Dutch Entrepreneurial Development Bank, to support the company’s on-going growth plans. The NCDs issued on a private placement basis are unlisted, redeemable, senior secured and transferable.
This investment by FMO is under Voluntary Retention Route (VRR) for investment in Indian debt by foreign portfolio investment (FPI). Proceeds of the NCDs shall be utilized for the company’s ongoing business operations including expansion and growth of its micro and small and medium enterprise (MSME) loan portfolio.
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).
| Company Name | CMP |
|---|---|
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| Shriram Finance | 1036.50 |
| Aditya Birla Capital | 340.20 |
| Chola Invest & Fin. | 1579.65 |
| Tata Capital | 337.60 |
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