Adar Poonawalla to buy 60% stake in NBFC co. Magma Fincorp for Rs 3,456 cr

Adar Poonawalla controlled investment firm Rising Sun Holdings will buy a controlling stake in Magma Fincorp with an investment of Rs. 3,200 crore reflecting a gradual return of investor interest in non-banking finance companies, which lost charm since the collapse of infrastructure conglomerate IL&FS more than two years ago.