The Reserve Bank of India today notified that M/s Magma Fincorp Limited has passed resolutions at the Board of Directors' level and a special resolution by the shareholders, agreeing for enhancing the limit for the purchase of its equity shares and convertible debentures by Foreign Institutional Investors through primary market and stock exchanges up to 49% of the paid up capital of the company under Protfolio Investment Scheme.

Ajit Prasad
Assistant General Manager

Press Release: 2013-2014/1204