MAS Financial Services Ltd's IPO to open on Oct 6, 2017

- IPO consists of Fresh Issue of up to Rs. 2330 million
- Offer for Sale of up to Rs. 2270.42 million by Selling Shareholders
- The minimum Bid lot is 32 equity shares and in multiples of 32 equity shares thereafter
- Issue opening date - October 06, 2017 and Issue closing date - October 10, 2017
- The Floor Price is 45.6 times of the face value and the Cap Price is 45.9 times of the Face Value

MAS Financial Services Limited, ("Company"), a Gujarat-headquartered NBFC with more than two decades of business operations will be launching its initial public offering ("IPO" or the "Offer") which is scheduled to open on October 06, 017 and close on October 10, 2017, with a price band of Rs. 456 to Rs. 459per Equity Share of face value of Rs. 10 each of the Company (the "Equity Shares"). The Anchor Investor Bid/Offer Period shall be October 05, 2017, being one working day prior to the Offer Opening Date.

The IPO comprises of a fresh issue aggregating up to Rs. 2,330 million (the "Fresh Issue") and an offer for sale aggregating up to Rs. 2,270.42 million by the selling shareholders. The offer for sale comprises of an offer aggregating up to Rs. 1,126.63 million by DEG-Deutsche Investitions-und Entwicklungsgesellschaft MBH ("DEG"), an offer for sale aggregating up to Rs. 793.38 million by NederlandseFinancierings - MaatschappijvoorOntwikkelingslanden N.V. ("FMO") and an offer for sale aggregating up to Rs. 350.41 million by Sarva Capital LLC ("Sarva Capital", and together with DEG and FMO, the "Selling Shareholders") ("Offer For Sale"). The offer includes a reservation aggregating up to Rs. 70 million for eligible employees (defined hereinafter) (the "Employee Reservation Portion"). The Offer less the employee reservation portion is referred to as the "Net Offer".

The Company has, in consultation with the BRLM, undertaken a private placement of 3,990,422 Equity Shares for cash consideration aggregating to Rs. 1,350.00 million ("Pre-IPO Placement"). The size of the Fresh Issue as disclosed in the Draft Red Herring Prospectus, has been reduced accordingly.

The Company proposes to utilize the net proceeds of the Fresh Issue towards augmenting its capital base to meet future capital requirements.

Motilal Oswal Investment Advisors Limited is the Book Running Lead Manager ("BRLM") to the Offer. The Registrar to the Offer is Link Intime India Private Limited.

The Equity Shares of MAS Financial Services Limited is proposed to be listed on the National Stock Exchange of India Limited and BSE Limited.

Source : Equity Bulls

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