MAS Financial Services soars on raising Rs 500 crore through QIP
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MAS Financial Services is currently trading at Rs. 318.95,up by 6.35 points or 2.03% from its previous closing of Rs. 312.60 on the BSE.
The scrip opened at Rs. 307.00 and has touched a high andlow of Rs. 319.80 and Rs. 307.00 respectively. So far 12217 shares were tradedon the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a52 week high of Rs. 387.70 on 22-Feb-2024 and a 52 week low of Rs. 246.59 on04-Aug-2023.
Last one week high and low of the scrip stood at Rs. 328.85and Rs. 298.90 respectively. The current market cap of the company is Rs.5759.33 crore.
The promoters holding in the company stood at 73.73%, whileInstitutions and Non-Institutions held 16.20% and 10.07% respectively.
MAS Financial Services has raised Rs 500 crore (includinggreen shoe option of Rs 100 crore) through Qualified Institutional Placement(QIP). This QIP marks the first equity raise by the Company since its IPO in2017 and it witnessed an overwhelming response resulting in demand of multipletimes over the issue size. The issue price of QIP is Rs 286.25 per share, witha face value of Rs 10 each.
MAS Financial Services is engaged in the business ofproviding Micro Enterprise loans (MEL), Small and Medium Enterprise loans (SME),Two Wheeler loans (TW), Commercial Vehicle loans (CV) and loans to NBFCs - tocreate the underlying assets of MEL, SME, TW and CV.
