MAS Financial Services files Rs 550-crore IPO papers with Sebi
MAS Financial Services today filed draft papers with capital markets regulator Sebi to raise an estimated Rs 550 crore through initial public offering.
MAS Financial Services today filed draft papers with capital markets regulator Sebi to raise an estimated Rs 550 crore through initial public offering.
The company is a Gujarat-headquartered non-banking financial company (NBFC) with more than two decades of business operations and having presence across six states and the NCT of Delhi.
The initial public offer (IPO) comprises fresh issue of shares worth up to Rs 307.4 crore and an offer for sale of up to Rs 242.6 crore by existing shareholders, the company said in a statement.
Besides, the company is considering pre-IPO placement of up to 41 lakh equity shares for cash consideration of up to Rs 135 crore.
If the pre-IPO placement is completed, the size of the fresh issue will be reduced, it added.
Net proceeds from the fresh issue will be utilised towards augmenting its capital base to meet future requirements.
The equity shares will have a face value of Rs 10 and the final price band will be decided in consultation with the book running lead Manager.
Motilal Oswal Investment Advisors Pvt Ltd will manage the company's initial public offering.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.
RECOMMENDED STORIES
Power of Compounding: How long it will take to build Rs 5 crore corpus with Rs 5,000, Rs 10,000 and Rs 15,000 monthly investments?
SBI 444-day FD vs PNB 400-day FD: Here's what general and senior citizens will get in maturity on Rs 3.5 lakh and 7 lakh investments in special FDs?
SCSS vs FD: Which guaranteed return scheme will give you more quarterly income on Rs 20,00,000 investment?
Small SIP, Big Impact: Rs 1,111 monthly SIP for 40 years, Rs 11,111 for 20 years or Rs 22,222 for 10 years, which do you think works best?
01:40 PM IST