Magma Fincorp’s board has approved an investment up to a sum of Rs 100 crore in the Equity Share Capital of Magma Housing Finance, Wholly Owned Subsidiary, to augment the subsidiary's lending business. The Board of Directors at their 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).
