MAS Financial shares jump nearly 43% in debut trade

Shares of MAS Financial Services gained nearly 43 per cent in its debut trade today, over the issue price of Rs 459.
The stock listed at Rs 660, up 43.79 per cent from the issue price on BSE. Intra-day, it zoomed 48.35 per cent to Rs 680.95. The scrip finally ended at Rs 654.75, up 42.64 per cent.
On NSE, it jumped 42.57 per cent to close at Rs 654.40.
In terms of equity volume, 28.52 lakh shares of the company were traded on BSE and over one crore shares changed hands on NSE during the day.
The company's market valuation stood at Rs 3,579 crore.

The Rs 460-crore initial public offer (IPO) was over- subscribed 128 times from October 6-10.

The company had fixed the price band at Rs 456-459 per share for the IPO.
MAS Financial is a Gujarat-headquartered Non-Banking Finance Company with more than two decades of business operations.
Net proceeds from the fresh issue will be utilised towards augmenting its capital base to meet future requirements.
Motilal Oswal Investment Advisors managed the company's IPO.