Lava Fincorp Limited Announces Name Change to Poonawalla Fincorp Limited

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Magma Fincorp Limited, a RBI-registered non-banking financing company (NBFC) has actually been rechristened as Poonawalla Fincorp Limited and has actually started rebranding activity, following the acquisition of managing stake by Adar Poonawalla led Rising Sun Holdings Private Limited on 21st May 2021. Company Wire India

Lava Fincorp Limited, a RBI-registered non-banking financing business (NBFC) has actually been rechristened as Poonawalla Fincorp Limited and has initiated rebranding activity, following the acquisition of managing stake by Adar Poonawalla led Rising Sun Holdings Private Limited on 21st Might 2021. In addition to this, its totally owned real estate finance subsidiary Magma Housing Finance Limited is likewise renamed as Poonawalla Housing Finance Limited.

In its brand-new avatar under Poonawalla brand, the group will be focusing on consumer and MSME sections. As a part of the brand-new technique, the company will broaden its item range to include Personal Loans, Loans to Professionals, Merchant Cash Advances, Loan against Property, Consumer Finance and Machinery Loans along with existing items of Business Loan, Pre-Owned Car Loans and Home Loans. Previously this month the board had authorized a proposition to go into a co-branded credit card plan for issuance of co-branded credit cards, subject to obtaining necessary approvals from the regulative authority(ies). The business uses total transparency in its offerings without any concealed charges and a fully consumer centric method.

Mr. Adar Poonawalla, Chairman, Poonawalla Fincorp Limited said, “& ldquo; We are thrilled to announce the rebranding of Magma Fincorp under the Poonawalla brand name as “”Poonawalla Fincorp””. This marks the beginning of not just a modification of brand name however the basic method which we will do business. From brand-new items to brand-new geographical places throughout India; we intend to serve every resident, assisting them in fulfilling their professional and individual aspirations.” & rdquo;

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