Poonawalla Fincorp Limited (PFL), a non-deposit taking systemically important NBFC, focusing on consumer and MSME finance, announced the appointment of Kumar Gaurav as Chief Marketing Officer. In his new role, Kumar will lead the Marketing, Brand, Corporate Communications, Public Relations, Digital Marketing and will be responsible for developing brand campaigns to enhance company’s brand presence…
Poonawalla Fincorp Limited in its board meeting approved sale of its housing subsidiary Poonawalla Housing Finance Limited to TPG (Perseus SG Pte. Ltd., an entity affiliated with TPG Global, LLC) at a valuation of INR 3,900 Crores, subject to regulatory approvals. The transaction will maximize the shareholders’ value in the long term as Poonawalla Fincorp…
Poonawalla Fincorp Limited (Formerly known as Magma Fincorp), a non-deposit-taking systemically important non-banking finance Company announced the appointment of Hiren Shah as the Head of Investor Relations. As the company scales up its business, Poonawalla Fincorp has been strengthening its leadership team. Hiren, who comes with over two decades of experience, will lead engagement with…
Poonawalla Fincorp Limited announced that Vijay Deshwal has resigned from the role of Chief Executive Officer of the company, with effect from March 4, 2022. He has decided to take up the strategic role within the company, the statement said. According to the company’s exchange filing, “We hereby inform you that Mr. Vijay Deshwal, Chief…
Poonawalla Fincorp announced it has reinstated Abhay Bhutada as Managing Director of the company, effective February 12, 2022. “The Board of Poonawalla Fincorp Limited at its meeting held earlier today reinstated Mr. Abhay Bhutada as its Managing Director with effect from 12 February 2022, ” the exchange filing said. Bhutada had stepped down on his…
Poonawalla Fincorp announced that Abhay Bhutada has resigned as Managing Director of the company, effective September 16, 2021. According to the company’s exchange filing, “We hereby inform you that Mr. Abhay Bhutada (DIN: 03330542), Managing Director of the Company has resigned from the Board of the Company with immediate effect from 16th September 2021, and…
Poonawalla Fincorp Limited (Formerly Magma Fincorp Limited), announced it has signed an MoU with Institute of Company Secretaries of India (ICSI) to provide collateral-free term loans to ICSI members as well as its employees. The scheme will benefit over 65,000 ICSI members across the country. The scheme offers an attractive interest rate, zero prepayment charges…
Poonawalla Fincorp Limited (Formerly Magma Fincorp Limited), has revamped, and strengthened its leadership team. As a part of its transformation exercise Poonawalla Fincorp has brought in various industry leaders through a string of top executive hirings across the functions. Rajendra Tathare, with more than two and a half decades of experience in credit risk and…
Poonawalla group acquired Magma Fincorp Limited has announced the joining of Sanjay Miranka as its Group Chief Financial Officer (Group CFO), effective immediately. In this new role, Sanjay will lead the group’s resource raising, regulatory compliance & governance, investor interactions, corporate legal, and work with the MD and Group CEO on the strategic transformation. Sanjay…
Magma Fincorp Limited, a Mumbai-based non-deposit taking non-banking finance Company (NBFC), announced a series of leadership changes following the Poonawala-controlled Rising Sun Holdings acquiring controlling stake through an equity infusion of Rs 3,456 crore in May 2021. The Board, on Monday, appointed Adar Poonawalla as the Chairman of the Company. The Company has also appointed…