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Nirmal Bang Report
Poonawalla Fincorp Ltd. aims to be a tech-enabled diversified non-banking financial company with focus on consumer and small and medium business finance. It is a subsidiary of Rising Sun Holding Pvt Ltd., which is owned and controlled by Mr. Adar Poonawalla. Rising Sun Holding invested Rs 32.1 billion for a 61.5% stake in the erstwhile Magma Fincorp Ltd. in February 2021. Since then, we have witnessed –
change in senior leadership team,
realignment of product suites for better risk-adjusted returns,
improvement in credit rating,
adoption of conservative credit policies and
scale-up in risk management, data-analytics and digital capabilities.
The company aims to achieve three times of March 2021 assets under management by FY25. We believe Poonawalla Fincorp is well poised for growth given the low base, recent capital infusion and improvement in liability profile.
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