MAS Financial IPO subscribed 129 times on final day
11/10/2017
The Rs 460-crore initial public offer (IPO) of MAS Financial Services was oversubscribed 128.84 times on the last day of subscription on Tuesday, reported PTI. The IPO received bids for 91,35,70,944 shares as compared to the total issue size of 71,24,910 shares, as per NSE data. The category reserved for qualified institutional buyers (QIBs) was oversubscribed 148.331 times, non institutional investors 378.53per cent and retail investors 15.6186 times. MAS Financial Services last week raised about Rs 136 crore from anchor investors. MAS Financial is a Gujarat-headquartered non-banking financial company (NBFC) with more than two decades of business operations and presence across six states and the NCT of Delhi. The issue comprises fresh issue of shares worth up to Rs 233 crore and an offer for sale of up to Rs 227 crore by existing shareholders. It has fixed a price band of Rs 456-459 per share for its initial share sale offering. The company intends to use net proceeds from the fresh issue towards augmenting its capital base to meet future requirements. Motilal Oswal Investment Advisors Pvt Ltd is managing the company's IPO. The shares are proposed to be listed on the National Stock Exchange and the Bombay Stock Exchange.
11/10/2017
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The Rs 460-crore initial public offer (IPO) of MAS Financial Services was oversubscribed 128.84 times on the last day of subscription on Tuesday, reported PTI. The IPO received bids for 91,35,70,944 shares as compared to the total issue size of 71,24,910 shares, as per NSE data. The category reserved for qualified institutional buyers (QIBs) was oversubscribed 148.331 times, non institutional investors 378.53per cent and retail investors 15.6186 times. MAS Financial Services last week raised about Rs 136 crore from anchor investors. MAS Financial is a Gujarat-headquartered non-banking financial company (NBFC) with more than two decades of business operations and presence across six states and the NCT of Delhi. The issue comprises fresh issue of shares worth up to Rs 233 crore and an offer for sale of up to Rs 227 crore by existing shareholders. It has fixed a price band of Rs 456-459 per share for its initial share sale offering. The company intends to use net proceeds from the fresh issue towards augmenting its capital base to meet future requirements. Motilal Oswal Investment Advisors Pvt Ltd is managing the company's IPO. The shares are proposed to be listed on the National Stock Exchange and the Bombay Stock Exchange.
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