Poonawalla Fincorp Limited was erstwhile incorporated as 'Magma Fincorp Limited' on December 18, 1978 as a Private Limited Company. On October 30, 1980, the company was converted into Public Limited Company and the name was changed to Magma Leasing Limited. On June 19, 2007, the name of the company was changed from Magma Leasing Limited to Magma Shrachi Finance Limited and subsequently to Poonawalla Fincorp Limited from Magma Shrachi Finance Limited on July 12, 2021. Effective October 1, 2022, the Company categorized as NBFC-ML under the RBI Scale Based Regulation dated October 22, 2021. Poonawalla Fincorp Limited is a publicly held non-banking finance company along with its subsidiaries and joint ventures engaged in providi