Adar Poonawalla appointed as chairman of Magma Fincorp
Magma Fincorp Limited is a Mumbai-based NBFC
Poonawalla is the CEO of Serum Institute of India
Poonawala-led Rising Sun Holdings (RSH) had acquired a controlling stake in Magma earlier this month
RSH agreed to pick up a 60% stake in Magma for a valuation of Rs 3456 crore
RSH will invest in Magma’s housing finance unit and general insurance JV
