Board of Magma Fincorp approves scheme of merger and fund raising

At meeting held on 09 November 2017

The Board of Magma Fincorp at its meeting held on 09 November 2017 has approved the following -

1. Scheme of Merger of Magma ITL Finance (Wholly Owned subsidiary Company) with Magma Fincorp ('the Company').

2. Authorization to raise finance upto an amount not exceeding Rs. 750 crores through issue of Securities in one or more tranches

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