Indianconstructionindustry News alert:KKR AND IFC to invest Rs4400 mn in MAGMA FINCORP

Mumbai : Kohlberg Kravis Roberts & Co. L.P. (together with its affiliates, "KKR") and International Finance Corporation ("IFC") is expected to shed an investment of Rs4,400 million in Magma Fincorp Ltd. The capital infusion will be used to support Magma's growth plans in existing businesses in addition to newer areas.

“ Maintining an aggressive growth pattern, we expect to increase our disbursements by 50% in FY12, and reducing our dependency on securitization thereby maintaining a healthy NIM via greater contribution from higher yielding products. This transaction is not just about capital but the foundation of a lasting partnership. " said Sanjay Chamria, Vice Chairman & Managing Director of Magma.

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