Existing investors in Magma Fincorp include Indian private equity firms True North and ChrysCapital and World Bank arm International Finance Corp. (IFC), among others. Mumbai: Kolkata-based non-banking finance company (NBFC) Magma Fincorp Ltd on Wednesday said it has raised Rs500 crore from institutional investors through a so-called qualified institutional placement (QIP). Magma provides products such as commercial finance, agri finance, small and medium enterprises (SME) finance and mortgage finance through Magma Housing Finance. IIFL Holdings Ltd, Kotak Mahindra Capital Co. Ltd, Edelweiss Financial Services Ltd and Emkay Global Financial Services Ltd managed Magma’s QIP. Shares of Magma Fincorp closed at Rs169.10, up 0.65%, on BSE, while the benchmark Sensex lost 0.18% to close at 34,331.68 points.

Source: Mint April 18, 2018 20:26 UTC