The Finance Committee of the Board of Directors of MAS Financial Services Limited (MAS Financial) (BSE: 540749, NSE: MASFIN), in its meeting held today approved and allotted, on a private placement basis, 1000 Rated, Senior, Secured, Listed, Transferable, Redeemable, Principal Protected Market-linked Non-convertible debentures (Marketlinked NCDs) of face value of INR 10,00,000, aggregating up to INR 100 crore.
The allotment of 1000 Market-linked NCDs, was inclusive of a green shoe option comprising 500 Marketlinked NCDs which was activated to retain over-subscription.
The debentures are rated 'CARE PP-MLD A+; Stable' by CARE Ratings Limited. The market-linked NCDs will be listed on the Wholesale Debt Market segment of The BSE Limited with a tenure of 24 months and 1 day from the date of allotment.
The structuring of these market-linked NCDs will offer a coupon rate of:
(a) 8.50%, if the Reference Index Performance is greater than 75%, and/or
(b) 8.45%, if the Reference Index Performance is lesser than or equal to 75% but greater than 25%), and/or
(c) 0%, if the Reference Index Performance is lesser than or equal to 25%.
(The Reference Index Performance means the performance of the Reference Index (i.e. 6.10% GS 2031} on the final fixing date in comparison to the initial fixing date.)
The Debentures shall be fully redeemed on a pari passu basis on the redemption date i.e., September 18, 2023, by making the redemption payment (being the aggregate of the face value / outstanding principal amount, and the interest amounts in respect of each of the Debentures to be calculated in the manner mentioned above).
Shares of MAS Financial Services Limited was last trading in BSE at Rs. 795.35 as compared to the previous close of Rs. 785.5. The total number of shares traded during the day was 8679 in over 1031 trades.
The stock hit an intraday high of Rs. 816.7 and intraday low of 780. The net turnover during the day was Rs. 6924854.