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Business EconomyPosted at: Apr 19 2018 12:25PM


Magma Fincorp raises Rs 500 cr through QIP route

Mumbai, Apr 19(UNI) Magma Fincorp, has raised Rs 500 crore at price of Rs 155 per
equity share through Qualified Institutional Placement (QIP).
The allotment of equity shares in the QIP has been completed, the company said in a filing with BSE.
After the Capital raise the company’s net worth has increased approximately by 25 per cent.
Goldman Sachs India, ICICI Prudential Life Insurance, HDFC Standard Life and Amansa Holdings
are among some of the investors who were allotted shares in the issue, said an official statement
issued by the company.
Commenting on the development, Vice Chairman & MD, Magma Fincorp Limited Sanjay Chamria
said, ''We heartily welcome our new Investors and thank them for their faith in our company and
management.''
''We are positive that this collaboration, in addition to the loyal and continued support of the board
and existing investors, will help Magma achieve strong growth and reach new heights in our business.''
Mr Chamria added.
Magma Fincorp is a leading Non-Banking Financial Company (NBFC) with business interests in Asset Finance, Housing Finance, SME Lending and General Insurance.
UNI JS HK AE 1220
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Tags: #Magma Fincorp raises Rs 500 cr through QIP route
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