Magma Fincorp merges Magma ITL Finance | M&A Critique - 0 views
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mnacritique on 17 Apr 18Magma Fincorp acquired 26% joint venture partner in August, 2017 and immediately thereafter it announced the merger. Before merger, it seems MITL have cleaned its book by providing NPAs and even booking substantial loss in FY17. At present both the companies are having low margins and high NPA's.