MAS Financial Services IPO to open for subscription today

India Infoline News Service | Mumbai | October 06, 2017 08:58 IST

The IPO comprises of a fresh issue aggregating up to Rs 233 crore (the fresh issue) and an offer for sale aggregating up to Rs 227.042 crore by the selling shareholders.

IPO
MAS Financial Services Limited, a Gujarat-headquartered NBFC with more than two decades of business operations will be launching its initial public offering (IPO). It is scheduled to open on October 6, 017 and close on October 10, 2017, with a price band of Rs 456 to Rs 459 per equity share of face value of Rs 10 each of the company.
 
The anchor investor bid/offer period shall be October 5, 2017, being one working day prior to the Offer opening date. The minimum Bid lot is 32 equity shares and in multiples of 32 equity shares thereafter
 
The IPO comprises of a fresh issue aggregating up to Rs 233 crore (the fresh issue) and an offer for sale aggregating up to Rs 227.042 crore by the selling shareholders.
 
The company has, in consultation with the BRLM, undertaken a private placement of 3,990,422 equity shares for cash consideration aggregating to Rs 135 crore (pre-IPO placement).
 
The company proposes to utilise the net proceeds of the fresh issue towards augmenting its capital base to meet future capital requirements.
 
Motilal Oswal Investment Advisors Limited is the Book Running Lead Manager (BRLM) to the offer. The Registrar to the offer is Link Intime India Private Limited.
 
The Equity Shares of MAS Financial Services Limited is proposed to be listed on the National Stock Exchange of India Limited and BSE Limited.

Disclaimer: The contents herein is specifically prepared by ‘Dalal Street Investment Journal’, and is for your information & personal consumption only. India Infoline Limited or Dalal Street Investment Journal do not guarantee the accuracy, correctness, completeness or reliability of information contained herein and shall not be held responsible.

 

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