MAS Financial Services Ltd raises Rs. 500 crores through QIP

The Finance Committee of MAS Financial Services Ltd at its meeting held on June 21, 2024, approved the allotment of 17,467,248 Equity Shares to eligible qualified institutional buyers at the issue price of ₹ 286.25 per Equity Share, i.e., at a premium of ₹ 276.25 per Equity Share (which includes a discount of ₹ 15.06 per Equity Share (4.99% of the floor price, as determined in terms of the SEBI ICDR Regulations) to the floor price), aggregating to approximately ₹ 5,000 million, pursuant to the Issue.

Pursuant to the allotment of Equity Shares in the Issue, the paid-up equity share capital of the Company stands increased from ₹ 163,98,61,290 consisting of 16,39,86,129 Equity Shares of ₹ 10 each to ₹ 181,45,33,770 consisting of 18,14,53,377 Equity Shares of ₹ 10 each. The shareholding pattern of the Company before and after the Issue will be submitted along with listing application in the format specified in Regulation 31 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015.

The Issue opened on June 19, 2024 and closed on June 21, 2024 and the same was intimated to you through our letters dated June 19, 2024 and June 21, 2024, respectively.

Shares of MAS Financial Services Limited was last trading in BSE at Rs. 312.60 as compared to the previous close of Rs. 314.45. The total number of shares traded during the day was 21645 in over 1347 trades.

The stock hit an intraday high of Rs. 324.00 and intraday low of 310.55. The net turnover during the day was Rs. 6808899.00.

Source : Equity Bulls

Keywords

MASFinancialServices INE348L01012 FundRaising QIP SharesAllotment QIBs