Adar Poonawalla appointed chairman of Magma Fincorp
IANS -
Magma Fincorp is now a subsidiary of Rising Sun Holdings Private Limited (owned and controlled by Adar Poonawalla), subsequent to equity infusion of Rs 3,456 crore as on May 6. Poonawalla is also the CEO of the Serum Institute of India, the makers of the Covishield vaccine.
Magma Fincorp soars 10% as Adar Poonawalla-led firm picks majority stake
IANS -
Rising Sun Holdings Private Limited and Magma Fincorp Limited on Wednesday announced a transaction for preferential issue of equity shares of Magma Fincorp which will result in a controlling stake being taken by Rising Sun Holdings and an open offer as per Public Announcement made under SAST guidelines.
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