Magma Fincorp has received an approval for raising funds through issuance of debt securities in the nature of non-convertible debt securities that is to say, secured, unsecured, subordinated debentures etc. for the financial year 2020-21 for an amount up to Rs 3000 crore. The Board of Directors at its meeting held on January 31, 2020 has approved 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).
