MAS Financial Services files for an IPO
DSIJ Intelligence / 29 Mar 2017
Ahmedabad-based NBFC (non-banking finance company), MAS Financial Services, has filed its draft prospectus with SEBI to launch its IPO.
Ahmedabad-based NBFC (non-banking finance company), MAS Financial Services, has filed its draft prospectus with SEBI to launch its IPO.
The company is going to raise Rs 550 crore through a combination of fresh equity (Rs 307.4 crore) and an Offer For Sale (Rs 242.6 crore) by existing shareholders.
All the three investors, Deutsche Investitions-Und Entwicklungsgesellschaft Mbh (DEG), Nederlandse Financierings-Maatschappij voor Ontwikkelingslanden NV (FMO) and Sarva Capital (earlier known as Lok Capital II LLC) will participate in the IPO.
MAS Financial Services is also considering a private placement of upto 41 lakh shares at a price of Rs 329.2 per share for a total consideration of upto Rs 135 crore. At the same time, if company completes the pre-IPO placement, it plans to reduce the size of its IPO to the same extent.
Funds garnered from the IPO will be utilised towards augmenting its capital base to meet future capital requirements.
Motilal Oswal Investment Advisors is the book running lead manager to the issue and Link Intime India is the registrar to the issue.
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