Breaking News

You are here » Indian-Commodity  :  Corporate  :  Magma Fincorp concludes acquisition of 26% stake in MITL


Magma Fincorp concludes acquisition of 26% stake in MITL

Magma Fincorp has completed the process to acquire 26% equity shares of Magma ITL Finance (MITL), a subsidiary company, from International Tractors (ITL) one of the existing shareholder of MITL (the Joint Venture Partner). By virtue of the said acquisition, MITL has become wholly owned subsidiary of the company.

Magma Fincorp is a non-deposit taking NBFC registered with the Reserve Bank of India (RBI) as an asset finance company. It started operations two decades back and is now listed on Bombay Stock Exchange (BSE) and National Stock Exchange (NSE).

Related News

View all news

Future Consumer raises funds worth Rs 50 crore via NCDs

Future Consumer has raised funds worth Rs 50 crore. The Committee of Directors of the Board of Directors of the company has on October 12, 2018, allotted 500 Senior, Secured, Non-Convertible Debentures......

Cupid bags order worth Rs 7.30 crore from UNFPA

Cupid has received an order worth Rs 7.30 crore from UNFPA to supply Male Condoms to Zambia. The order has to be executed over a period of four months. This is the single largest and the first big order......

Glenmark's arm receives USFDA's final approval for Hydrocortisone Valerate Cream

Glenmark Pharmaceuticals' subsidiary -- Glenmark Pharmaceuticals Inc, USA has been granted final approval by the United States Food and Drug Administration (USFDA) for Hydrocortisone Valerate Cream USP,......

Top News

View all news

Ashiana Housing wins two awards

Ashiana Housing has won two awards. Realty Plus Awards 2018 has felicitated 'Ashiana Umang' as 'Best Themed Project' and the company's website as the 'Best Real Estate Website of the year'.Ashiana Umang......

Tata Power inaugurates second 'All-women' CRC in Mumbai

Tata Power has inaugurated its second 'All Women' Customer Relations Centre (CRC) in Borivali (East), Mumbai, with an aim to continue providing their talented and highly skilled women employees with new......

McLeod Russel hands over specified assets of eight Tea Estates to M K Shah Exports

McLeod Russel India has handed over the specified assets of the eight Tea Estates of the company to M K Shah Exports.Post completion of due diligence by M K Shah Exports (Buyer) and on compliance of the......