MAS Financial Services IPO subscribed 3.34 times
DSIJ Intelligence / 09 Oct 2017
The IPO of MAS Financial Services Limited, a Gujarat-based NBFC, got subscribed 3.34 times as on Monday 14:00:01 IST on Day 2. The company’s IPO will close on 10th October.
The IPO of MAS Financial Services Limited got subscribed 3.34 times as on Monday 14:00:01 IST on Day 2. The total issue size of the Initial Public Offering (IPO) is 71,24,910. The total bids received stood at 2,37,93,216 shares, while total bids received at cut-off price stood at 1,20,00,672 shares.
The company’s IPO opened for subscription on 6th October and will close on 10th October. The price band of the issue is Rs. 456 to Rs. 459 per equity share of face value of Rs. 10 each of the company. The minimum bid lot is 32 equity shares and in multiples of 32 equity shares thereafter.
The IPO consists of a fresh issue aggregating up to Rs. 233 crore and an offer for sale aggregating up to Rs. 227.042 crore by the selling shareholders. The company has undertaken a pre-IPO private placement of 39,90,422 equity shares for cash consideration aggregating to Rs. 135 crore.
The company plans to utilise the net proceeds of the IPO for augmenting its capital base to meet future capital requirements. Motilal Oswal Investment Advisors Limited is the Book Running Lead Manager (BRLM) to the offer, while the registrar is Link Intime India Private Limited.
MAS Financial Services Limited is leading retail non-banking financial company (NBFC) based in Gujarat, India, which is offer loans without/less Documents for businessman.
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