MAGMA FINCORP LIMITED
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We come with a commitment to invest even in your smallest dream; extending a helping hand. At Magma, we provide finance and freedom to those who wish to rise; to those who are denied both.
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About Us - Growth Path


  1. 1989: Magma Leasing Limited commenced operations


  2. 1992: Merged with Arm Group Enterprises to strengthen its business


  3. 1996: Entered retail financing business for vehicles and construction equipment


  4. 1998: Expansion of retail financing operations in Orissa and Chhattisgarh, thus expansion of network in East India


  5. 1999: Acquisition of Consortium Finance Ltd (CFL); expansion of network across 40 branches in North and East India


  6. 2001: Strategic joint financing agreement with Citicorp


  7. 2003: Strategic arrangement with ICICI Bank


  8. 2005: Launched fee-based business - Insurance and Personal loan


  9. 2006: Rolled out two new products - Used Vehicle Finance & Strategic Construction Equipment


  10. 25 August 2006: Magma Leasing and Shrachi Infrastructure merger announced; Magma also entered into a tie-up with Maruti Udyog Limited, the country's largest carmaker, to finance Maruti cars


  11. 2007: Merger and integration of Magma Leasing and Shrachi Finance completed - pan-India footprint with 160 offices in 20 states and asset base of over Rs 6,400 crore


  12. August 2007: Magma Shrachi and International Tractors Limited (ITL) entered into a joint venture to form Magma ITL Finance Limited


  13. August 2008: Underwent a major branding exercise, subsequent to which the company was renamed Magma Fincorp Limited


  14. 2009: Entered into a tie-up with Ashok Leyland for financing of commercial vehicles.


  15. 2009: Magma inks JV with German insurer HDI Gerling to enter general insurance business.


  16. 2009: Magma owns 7% stake in the newly formed Experian Credit Information Company of India Pvt Ltd, the Indian Credit Information Company (CIC) arm of the global information services company, Experian.


  17. 2010: Entered into a tie-up with Caterpillar India to finance the latter's entire range of construction and mining machines.


  18. 2011: Magma received the initial 'R1' approval from the Insurance Regulatory and Development Authority (IRDA) to launch general insurance business


  19. 2011: Kohlberg Kravis Roberts & Co. L.P. (together with its affiliates, "KKR") along with International Finance Corporation ("IFC") invested Rs. 400 crore in Magma
 
    
 


 
    

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