MAS Financial fixes IPO price band at Rs 456-459
Tanay Loya / 28 Sep 2017
MAS Financial Services has announced that the price band for its initial public offering (IPO) is fixed at Rs 456-459 per share.
MAS Financial Services has announced that the price band for its initial public offering (IPO) is fixed at Rs 456-459 per share.
The company statement said that the IPO will be open for public subscription during October 6-10, through which the company estimates to raise Rs. 460 crore.
The company had received SEBI approval to float an IPO in May this year.
The public issue comprises a fresh issue of shares worth up to Rs. 233 crore and an offer for sale of up to Rs. 227 crore by existing shareholders. The company has also undertaken a private placement of 39,90,422 shares for cash consideration aggregating Rs. 135 crore.
Net proceeds from the fresh issue will be utilised towards augmenting its capital base to meet future requirements.
MAS Financial Services is a Gujarat-headquartered non-banking financial company (NBFC) having more than two decades of business operations and presence across six states and the NCT of Delhi.
The company’s initial public offering will be managed by Motilal Oswal Investment Advisors. The shares are proposed to be listed on the NSE and the BSE.
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