Business Standard

Serum Institute's Adar Poonawalla appointed chairman of Magma Fincorp

Vijay Deshwal, currently with ICICI Bank as its business head, will take charge as CEO of Magma Fincorp in July

Adar Poonawalla, CEO of Serum Institute of India Ltd

Adar Poonawalla (Photo: Bloomberg)

BS Reporter Mumbai
As a part of the management overhaul, Adar Poonawalla, who acquired a controlling stake in Magma Fincorp for Rs 3,456 crore through Rising Sun Holding, has been appointed chairman of the company by the board of directors.
Poonawalla is also the chief executive officer of Serum Institute of India.
Vijay Deshwal, currently working at private sector lender ICICI Bank, as its business head, will take charge as the chief executive officer (CEO) of Magma Fincorp in July. He will also be the group CEO of Poonawalla Group’s financial services business. The company has also appointed Abhay Bhatuda as

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First Published: May 31 2021 | 8:34 PM IST

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