Business Today

Magma Fincorp shares surge 15 per cent on potential preferential issue

Magma Fincorp said its board will meet later in day on Monday to consider preferential issue of shares.

Indulal PM   Mumbai     Last Updated: March 30, 2015  | 15:01 IST
Magma Fincorp shares rise 15% on potential preferential issue
(Photo: Reuters)

Shares of Magma Fincorp on Friday surged 15 per cent, heading for their biggest single-day gain since June 16, 2009, after the company said its board was considering a preferential issue.

Magma Fincorp said its board will meet later in day on Monday to consider preferential issue of shares.

According to Reuters, US-based private equity giant KKR Co has about 16 per cent stake in Magma.

(Reuters)

Youtube
  • Print

  • COMMENT
BT-Story-Page-B.gif
A    A   A
close