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Team Magma runs Mumbai Marathon for charity &
raises Rs 10 lacs for Kolkata based Orphanage
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Mumbai, 15th January, 2012:
A twenty four member team from Magma Fincorp Limited, one of the leading asset finance companies of the country, took part today in the Standard Chartered Mumbai Marathon 2012. The team headed by Mr. Sanjay Chamria, Vice Chairman & Managing Director, covered the 21 Km, half - marathon stretch. Magma team which was running for a cause to raise funds for charity through the Marathon will be donating an amount of Rs 10 lacs to an orphanage run by The Philanthropic Society Of The Orthodox Church, Kolkata.
For this, Magma also created a fund raising initiative for the orphanage on its Facebook fan page, which has amassed over 1,10,000 fans. An application was created where users could show their support for the initiative by just clicking on a live-ticker; and with each new click on the application button, Magma contributed an additional Rs. 20/- to the donation amount on the user's behalf. This initiative, which started on 3rd January, 2012 continued till 14th January, 2012. Apart from this, Magma employees also contributed towards the cause.
"We are very happy to have participated successfully at Standard Chartered Mumbai Marathon 2102. It has been a great experience for the team. We were all looking forward to this initiative to extend our support towards the orphanage run by The Philanthropic Society Of The Orthodox Church." said Mr Sanjay Chamria, Vice Chairman & Managing Director, Magma Fincorp Limited.
About Magma
Magma Fincorp Limited ("Magma") is a non-deposit taking non-banking finance company (NBFC), registered with the Reserve Bank of India (RBI) as an Asset Finance Company. The Company, having started operations over two decades back, is listed on the Bombay Stock Exchange Limited and the National Stock Exchange in India.
Magma provides a bouquet of financial products including financing of Utility Vehicles & Cars, Commercial Vehicles, Construction Equipments, Tractors and SME Loans. Magma has a dedicated base of around 2.7 lac customers and has assets of INR 11378 crores under management. The company has 195 branches in 20 states and 1 union territory and employs over 5000 people.
Magma has signed a joint venture with HDI Gerling, part of Talanx Group, Germany's third largest insurance group to start a general insurance company in India, which since has received R1 license from the insurance regulator.
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