Poonawalla Fincorp Limited (previously Magma Fincorp Limited) said that its CEO Vijay Deshwal has resigned with immediate effect to join the Cyrus Poonawalla Group where he will be overseeing emerging investment opportunities. According to Poonawalla Fincorp, the company will be led by Abhay Bhutada, the present managing director, who will continue to handle the operational […]
Poonawalla Fincorp Limited (previously Magma Fincorp Limited), an Indian non-banking finance company, has roped in Gaurav Sharma as its group chief technology officer (CTO). Gaurav Sharma will be leading and managing the technology initiatives for Poonawalla Fincorp. He is expected to further strengthen the commitment of the group of developing a world class digital technology […]
Magma Fincorp, an Indian non-banking finance company (NBFC), owned by Adar Poonawalla-controlled Rising Sun Holdings, has changed its name to Poonawalla Fincorp Limited. The company said that it has started rebranding activity following the name change. It can be recalled that Rising Sun Holdings had acquired a controlling stake in the company earlier this year. […]
Magma Fincorp announced that Vijay Deshwal has joined the Mumbai-based non-banking financial company as the group CEO. The development follows the company’s recent appointment of Serum Institute of India CEO Adar Poonawalla as its chairman. Magma Fincorp is a subsidiary of Adar Poonawalla-controlled Rising Sun Holdings. In his role, Vijay Deshwal will handle the lending […]
The board of Magma Fincorp, a Mumbai-based non-banking financial company, has appointed Serum Institute of India CEO Adar Poonawalla as the company’s chairman. It can be recalled that Adar Poonawalla-controlled Rising Sun Holdings had recently acquired a controlling stake of 60% in Magma Fincorp via an equity infusion of INR 3,456 crore. Abhay Bhutada has […]
Magma Fincorp said that its shareholders have approved Rising Sun Holdings’ (RSHPL) acquisition of a controlling stake in the former. In February 2021, Rising Sun Holdings, which is controlled by Serum Institute of India CEO Adar Poonawalla, had announced the deal with the non-banking financial company based in Mumbai. The transaction will be executed via […]
Rising Sun Holdings (RSHPL), a company controlled by Serum Institute of India CEO Adar Poonawalla, has agreed to acquire a controlling stake in Magma Fincorp, non-banking financial company based in Mumbai. The transaction will be through for preferential issue of equity shares of Magma Fincorp and an open offer in accordance with the public announcement […]