Magma Ventures Sells 0.52% Stake In Poonawalla Fincorp For Rs 200 Crore

Magma Ventures Pvt. has offloaded 0.52% stake in Poonawalla Fincorp Ltd. for Rs 200 crore through an open market transaction on Wednesday.

Magma Ventures sold 40.33 lakh shares at Rs 495.85 apiece on the stock exchange, according to block deal data. It held 1.50% stake in Poonawalla Fincorp, as of December.

Rising Sun Holdings Pvt., a promoter of the company, mopped up 40.33 lakh shares (0.52%) and held 62.07% stake in the company, as of December.

Shares of Poonawalla Fincorp closed 1.26% lower at Rs 477.80 apiece, as compared with a 0.98% rise in the benchmark BSE Sensex.