Thursday , October 21 2021

MAS Financial Services rises on getting nod to raise Rs 700 crore via NCDs

MAS Financial Services is currently trading at Rs. 865.60, up by 9.40 points or 1.10% from its previous closing of Rs. 856.20 on the BSE.

The scrip opened at Rs. 872.00 and has touched a high and low of Rs. 890.00 and Rs. 852.30 respectively. So far 1164 shares were traded on the counter.

The BSE group ‘A’ stock of face value Rs. 10 has touched a 52 week high of Rs. 1107.65 on 18-Nov-2020 and a 52 week low of Rs. 532.25 on 26-May-2020.

Last one week high and low of the scrip stood at Rs. 930.00 and Rs. 823.00 respectively. The current market cap of the company is Rs. 4723.35 crore.

The promoters holding in the company stood at 73.60%, while Institutions and Non-Institutions held 12.19% and 14.21% respectively.

MAS Financial Services’ board has approved the borrowing of funds by way of issuance of Secured / unsecured Non-Convertible debentures (NCDs) up to an aggregate amount of Rs 700 crore, in one or more tranches through Private placement basis in accordance with the rules and regulation framed by the Reserve Bank of India (RBI); The Securities and Exchange Board of India (SEBI) and Ministry of Corporate Affairs (MCA) as amended from time to time, within the overall borrowing limits approved by the shareholders. The Board of Directors of the company in its Meeting held on May 19, 2021 has approved the same.

MAS Financial Services is registered as a systematically important non deposit taking non-banking finance Company (NBFC) with Reserve Bank of India (RBI). The company is engaged in the business of providing Micro Enterprise loans (MEL), Small and Medium Enterprise loans (SME), Two Wheeler loans (TW), Commercial Vehicle loans (CV) and loans to NBFCs – to create the underlying assets of MEL, SME, TW and CV.

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