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MAS Financial Services IPO Subscribed Over 100 Times On Last Day

Shares of MAS Financial Services will be listed on both NSE and BSE and the likely date of listing is October 18 .
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MAS Financial Services IPO: MAS shares will be listed on both NSE and BSE.
MAS Financial Services IPO: MAS shares will be listed on both NSE and BSE.

The IPO of MAS Financial Services, which opened on Friday, was fully subscribed on the same day one and was subscribed 111.27 times as of 3:45 pm on the last day of the issue. The Gujarat-based non-banking financial company (NBFC) is set to raise Rs 460 crore from the primary market through an initial public offer (IPO). The MAS Financial Services IPO opened for subscription today. Priced in a band of Rs 456-459, the MAS Financial Services IPO is a mix of fresh issue and offer for sale by early investors and will give the company a post-issue valuation of Rs 2,500 crore. The MAS Financial Services IPO can be subscribed in a lot size of 32 shares. Shares of MAS Financial Services will be listed on both NSE and BSE and the likely date of listing is October 18 .

 

Should You Invest In MAS Financial Services IPO?



1) The MAS Financial Services IPO is a mix of fresh issue (Rs 233 crore) and offer for sale (Rs 227 crore) by early investors like Sarva Capital and DEG (an entrepreneurial development bank of the Netherlands). The company want to use the proceeds of the MAS Financial Services IPO for augmenting its capital base to meet future capital requirement.

2) Gujarat-headquartered MAS Financial Services has been in operation for more than two decades. Its branches are spread across six states and the NCT of Delhi. The company started its operation with focus on micro enterprises (ME) loans and gradually expanded its loan portfolio to two-wheeler and commercial vehicle, SME and housing loans. To leverage its existing client base and network further, it has now extended loans to agricultural input and equipment segment.
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