Magma Fincorp hits 10% upper circuit at Rs. Ninety three.40, after Rising Sun Holdings Private Ltd (RSHPL) will purchase a majority stake within the organization.
Magma Fincorp said its board accepted and finished binding terms of an agreement between Rising Sun Holdings, and Mayank Poddar and Sanjay Chamria whereby the Adar Poonawalla-led Rising Sun Holdings Private Limited will accumulate 60% stake inside the enterprise via a preferential allotment.
RSHPL will gather forty five.80 crore stocks of Magma Fincorp at Rs. 70 in step with share, investing a total of Rs. 3,206 crores for its 60% stake.
Bazaarinformation team has many years of experience, covering the physical and future commodities markets with prominent commodity & equity trading advising which shines further with extensive network to get research from ground levels to generate proper reporting and movements. We are able to get evens out of odds in volatile markets and stockings. ...
