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Let’s understand latest action taken on #PoonawalaFincorp #MagmaFincorp by SEBI, behind the scenes and what were recent development in company
Action Taken by SEBI and Reasons
-SEBI received insider trading alerts in Magma when the announcement was made regarding acquisition of a controlling stake in the Company by Rising Sun Holding (RSHPL, controlled by Poonawala group owned by Adar Poonawala,Serum Institute Owner).
-SEBI received insider trading alerts in Magma when the announcement was made regarding acquisition of a controlling stake in the Company by Rising Sun Holding (RSHPL, controlled by Poonawala group owned by Adar Poonawala,Serum Institute Owner).
-Magma made a preferential allotment to RSHPL to raise fresh capital of ₹3,456 crores.
-Discussion started with the conversation between Mr. Abhay Bhutada (was working as Managing Director and CEO of Poonawalla Finance Pvt Ltd) & Kailash Baheti,CFO of Magma.
-Discussion started with the conversation between Mr. Abhay Bhutada (was working as Managing Director and CEO of Poonawalla Finance Pvt Ltd) & Kailash Baheti,CFO of Magma.
