Magma Fincorp is currently trading at Rs. 55.00, up by 2.60 points or 4.96% from its previous closing of Rs. 52.40 on the BSE.
The scrip opened at Rs. 55.00 and has touched a high and low of Rs. 55.00 and Rs. 53.00 respectively. So far 54074 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 138.20 on 02-Jul-2019 and a 52 week low of Rs. 37.00 on 20-Nov-2019.
Last one week high and low of the scrip stood at Rs. 52.40 and Rs. 48.05 respectively. The current market cap of the company is Rs. 1468.41 crore.
The promoters holding in the company stood at 24.41%, while Institutions and Non-Institutions held 68.18% and 7.41% respectively.
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).
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