Magma Fincorp has opened its branch in Ananthapur on November 16, 2011. Currently it has over 24,000 customers in Andhra Pradesh and the base is growing fast, as it has disbursed Rs 656 crore in the state last financial year. The company also plans to increase its business by 50% across product categories in the current fiscal.
Magma Fincorp is a non-deposit taking non-banking finance company (NBFC), registered with the Reserve Bank of India (RBI) as an Asset Finance Company. The company, having started operations over two decades back, is listed on the Bombay Stock Exchange and the National Stock Exchange in India.
