Poonawalla Fincorp (formerly known as Magma Fincorp), having its registered office in Pune, India is a publicly held Non-Banking Finance Company (NBFC) engaged in providing finance through its pan India branch network.

The company is registered as a non-deposit taking NBFC as defined under Section 45-IA of the Reserve Bank of India (RBI) Act, 1934. The Company is also registered as a corporate agent under Insurance Regulatory and Development Authority of India (Registration of Corporate Agents) Regulations, 2015. Its equity shares are listed on National Stock Exchange and Bombay Stock Exchange.

Business area of the company

The company is a technology-led, customer-first NBFC, backed by the legacy and trust of the Cyrus Poonawalla Group. The company focuses on delivering responsible credit across consumer and MSME segments, guided by a strong risk-first and governance-first approach. Its diversified lending portfolio spans across secured and unsecured products designed to meet the evolving needs of its customers.

Products of the company

• Instant Loan
• Personal Loan
• Flexi Prime Personal Loan
• Instant Business Loan
• Business Loan
• Commercial Vehicle Loan
• Consumer Durable Loan
• Gold Loan
• Education Loan
• Professional Loan
• Pre-Owned Car Loan
• Loan Against Property
• Medical Equipment Loan
• Machinery Loan

Milestones

• 2011: Magma Fincorp gets R1 approval from IRDA to launch general insurance business.
• 2012: Magma Fincorp acquires GE Capital India's Housing Finance & Home Equity Loans Businesses.
• 2013: Magma Fincorp successfully completes the acquisition of 100% equity share capital of GE Money Housing Finance.
• 2013: Magma Fincorp completes GE Money Housing Finance deal, also acquires Religares Auto Lease business.
• 2014: Magma launches Tyre Loan for Existing Customers.
• 2015: Magma Fincorp board approves grant of Awards under Magma Restricted Stock Option Plan 2014.
• FY2021-22: Rising Sun Holdings Private Limited acquired controlling stake in Magma Fincorp in May-2021. 
• FY2021-22: Rebranded Magma Fincorp to Poonawalla Fincorp in July-2021. 
• FY2021-22: Restructured the business. Achieved two-notch upgrade in long-term credit rating to 'AA+/Stable' by CRISIL & CARE Ratings.
• FY2022-23: Upgrade in Credit Ratings to 'AAA/Stable' by CRISIL & CARE Ratings. 
• FY2022-23: Recognized among the most preferred workplaces 2022–2023 by Marksmen Daily in association with India Today. 
• FY2022-23: Rolled out Digital transformation initiatives: Implemented LOS, LMS and ERP systems. Launched future-ready Human Capital Programs: Competency framework, Learning & development, and Productivity enhancements.
• FY2023-24: Achieved AUM milestone of Rs 25,000+ Crore. Launched and scaled up mobile application. 
• FY2023-24: Maintained 'AAA/Stable' rating from CRISIL and CARE. 
• FY2023-24: Ranked amongst the top 50 Best Workplaces in BFSI in India for 2024 by Great Place To Work (GPTW).
• FY2024-25: Appointment of Arvind Kapil as MD & CEO in June-2024. 
• FY2024-25: Investment in growth initiatives across People, Technology and Distribution. 
• FY2024-25: Product diversification and AI-first approach across functions. 
• FY2024-25: Expand ‘Phygital’ model to engage with customers across touch points and cross-sell to customer cohorts at lower acquisition cost. 
• FY2024-25: Strengthen risk management framework.