MAS Financial Services jumps on launching qualified institutional placement
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MAS Financial Services is currently trading at Rs. 320.65, up by 8.75 points or 2.81% from its previous closing of Rs. 311.90 on the BSE.
The scrip opened at Rs. 319.50 and has touched a high and low of Rs. 328.85 and Rs. 316.55 respectively. So far 19083 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 387.70 on 22-Feb-2024 and a 52 week low of Rs. 246.59 on 04-Aug-2023.
Last one week high and low of the scrip stood at Rs. 328.85 and Rs. 298.90 respectively. The current market cap of the company is Rs. 5256.58 crore.
The promoters holding in the company stood at 73.73%, while Institutions and Non-Institutions held 16.20% and 10.07% respectively.
MAS Financial Services has launched qualified institutional placement (QIP) with floor price for the Issue, being Rs 301.31 per Equity Share, (Floor Price), based on the pricing formula as prescribed under the SEBI ICDR Regulations.
Pursuant to Regulation 176(1) of the SEBI ICDR Regulations and in accordance with the approval of the members of the Company accorded through a special resolution on February 9, 2024, the Company at its discretion may offer a discount of not more than 5% on the floor price so calculated for the Issue. The Issue price will be determined by the Company in consultation with the lead managers appointed for the Issue.
MAS Financial Services is engaged in the business of providing Micro Enterprise loans (MEL), Small and Medium Enterprise loans (SME), Two Wheeler loans (TW), Commercial Vehicle loans (CV) and loans to NBFCs - to create the underlying assets of MEL, SME, TW and CV.
