 "MAS Financial IPO subscribed 128 times on heavy institutional, HNI interest")
The Rs 460-crore initial public offering (IPO) of MAS Financial Services was subscribed 128 times on the final day. While the Institutional portion of the offering was subscribed 148 times, the non-institutional category comprising of high net-worth individuals (HNIs) saw 377 times subscription.
Retail investor portion was relatively less subscribed at 15.5 times.
The IPO consisted of fresh issue of Rs 233 crore and an offer for sale(OFS) of Rs 227 crore. The price band for the issue has been fixed at Rs 456 to Rs 459.
MAS provides corporate finance to NBFCs and other micro-finance lenders engaged in retail finance and small ticket loans. The company has a strong presence in Gujarat, Rajasthan and Maharashtra. MAS is backed by private equity investors like Sarva Capital and DEG.
Motilal Oswal Investment banking is the sole book running manager for the issue.
One subscription. Two world-class reads.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app