Bookbuilding IPO | ₹460 Cr | Listed at BSE, NSE | Fri, Oct 6, 2017 - Tue, Oct 10, 2017
MAS Financial IPO is a book build issue of ₹460.04 crores. The issue is a combination of fresh issue of 0.51 crore shares aggregating to ₹233.37 crores and offer for sale of 0.49 crore shares aggregating to ₹226.67 crores.
MAS Financial IPO bidding started from Oct 6, 2017 and ended on Oct 10, 2017. The allotment for MAS Financial IPO was finalized on Oct 13, 2017. The shares got listed on BSE, NSE on Oct 18, 2017.
MAS Financial IPO price band is set at ₹459 per share. The lot size for an application is 32. The minimum amount of investment required by an retail is ₹14,688 (32 shares) (based on upper price). The lot size investment for sNII is 14 lots (448 shares), amounting to ₹2,05,632, and for bNII, it is 69 lots (2,208 shares), amounting to ₹10,13,472.
The issue includes a reservation of up to 1,69,082 shares for employees offered at a discount of ₹45.00 to the issue price.
Motilal Oswal Investment Advisors Ltd. is the book running lead manager and MUFG Intime India Pvt.Ltd. is the registrar of the issue.
Refer to MAS Financial IPO RHP for detailed Information.
IPO Open
Fri, Oct 6, 2017
IPO Close
Tue, Oct 10, 2017
Issue Price
₹459 per share
Market Cap (Pre-IPO)
₹2,508.99 Cr
| IPO Date | 6 to 10 Oct, 2017 |
| Listed on | Wed, Oct 18, 2017 |
| Face Value | ₹10 per share |
| Price Band | ₹456 to ₹459 |
| Issue Price | ₹459 per share |
| Lot Size | 32 Shares |
| Sale Type | Fresh capital cum OFS |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Employee Discount | ₹45.00 |
| Total Issue Size | 1,00,39,277 shares (agg. up to ₹460 Cr) |
| Fresh Issue | 50,92,829 shares (agg. up to ₹233 Cr) |
| Offer for Sale | 49,46,448 shares of ₹10 (agg. up to ₹227 Cr) |
| Share Holding Pre Issue | 4,95,69,214 shares |
| Share Holding Post Issue | 5,46,62,043 shares |
| BSE Script Code / NSE Symbol | 540749 / MASFIN |
| ISIN | INE348L01012 |
MAS Financial IPO comprises a total issue size of 1,00,39,277 shares. The net offer to the public is 98,70,195 shares, after excluding 1,69,082 shares under a preferential allotment. Of the Net offer 49,35,096 (50.00%) are allocated to QIB, 14,80,530 (15.00%) allocated to NII 34,54,569 (35.00%) allocated to RII.
| Investor Category | Shares Offered | % of Net Issue | % of Total Issue | Max Allottees |
|---|---|---|---|---|
| QIB Shares Offered | 49,35,096 | 50.00% | 49.16% | NA |
| − Anchor Investor Shares Offered | 29,61,057 | 29.49% | NA | |
| − QIB (Ex. Anchor) Shares Offered | 19,74,039 | 19.66% | NA | |
| NII (HNI) Shares Offered | 14,80,530 | 15.00% | 14.75% | NA |
| Retail Shares Offered | 34,54,569 | 35.00% | 34.41% | 1,07,955 |
| Preferential Reservations | ||||
| Employee Shares Offered | 1,69,082 | 1.68% | NA | |
| Total Shares Offered | 1,00,39,277 | 100.00% | 100.00% | |
Investors can bid for a minimum of 32 shares and in multiples thereof.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 32 | ₹14,688 |
| Retail (Max) | 13 | 416 | ₹1,90,944 |
| S-HNI (Min) | 14 | 448 | ₹2,05,632 |
| S-HNI (Max) | 68 | 2,176 | ₹9,98,784 |
| B-HNI (Min) | 69 | 2,208 | ₹10,13,472 |
MAS Financial IPO raises ₹135.91 crore from anchor investors. MAS Financial IPO Anchor bid date is October 5, 2017.
📝 Anchor Investors Letter (PDF)
| Bid Date | Thu, Oct 5, 2017 |
| Shares Offered | 29,61,057 |
| Anchor Portion (₹ Cr.) | 135.91 |
| Anchor lock-in period end date for 50% shares (30 Days) | Sun, Nov 12, 2017 |
| Anchor lock-in period end date for remaining shares (90 Days) | Thu, Jan 11, 2018 |
| Application Category | Maximum Bidding Limits | Bidding at Cut-off Price Allowed |
|---|---|---|
| Only RII | Up to Rs 2 Lakhs | Yes |
| Only sNII | Rs 2 Lakhs to Rs 10 Lakhs | No |
| Only bNII | Rs 10 Lakhs to NII Reservation Portion | No |
| Only employee | Yes | |
| Employee + RII/NII |
|
Yes for Employee and RII/NII |
Incorporated in 1995, MAS Financial Services is a Gujarat based NBFC (Non-Banking Financial Company). Company operated across six States and in Delhi through 119 branches. As of September 30, 2016 Company had more than 530,000 active loan accounts and 3,200 Customer.
MAS Financial offer product and services under 5 categories:
1. Micro-enterprise loans
2. SME loans
3. Two-wheeler loans
4. Commercial Vehicle loans
5. Housing loans
Company also have commission based direct sales agents and revenue sharing arrangements with various dealers and distributors where part of loan default is guaranteed by such sourcing partners.
Company Strengths
1. Over 2 decade in business. Track record of consistent growth with quality loan portfolio
2. Diversified product offerings
3. Access to diversified sources of capital and cost-effective funding
4. Developed an extensive operational network in Gujarat and Maharashtra
5. Robust credit assessment and risk management framework
| Period Ended |
|---|
| Amount in ₹ Crore |
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | To augment capital base to meet future capital requirements | 202.72 |
| 2 | Offer related expenses | 30.28 |
| Total | 233.00 |
The MAS Financial IPO is subscribed 128.39 times on October 10, 2017 11:15:00 PM (Day 3). The public issue subscribed 15.97 times in the retail category, 148.33 times in the QIB category, and 378.53 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) | Shares Offered | Shares bid for |
|---|---|---|---|
| QIB | 148.33 | 19,87,028 | 29,47,37,952 |
| NII | 378.53 | 14,90,270 | 56,41,17,088 |
| Retail | 15.97 | 34,77,296 | 5,55,32,512 |
| Employee | 2.41 | 1,70,316 | 4,09,696 |
| Total | 128.39 | 71,24,910 | 91,47,97,248 |
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Payment to the BRLM (including brokerage and selling commission) | 14.93 |
| 2 | Selling commission and processing fees for SCSBs; and brokerage, selling commission and bidding charges for the Members of the Syndicate, Registered Brokers, RTAs and CDPs | 3.31 |
| 3 | Fees payable to the Registrar to the Offer | 1.05 |
| 4 | Listing fees, SEBI filing fees, book building software fees and other regulatory expenses | 2.54 |
| 5 | Printing and stationery expenses | 1.99 |
| 6 | Advertising and marketing expenses for the Offer | 2.61 |
| 7 | Miscellaneous expenses (including fees to legal counsel, auditors, chartered accountants etc.) | 3.85 |
| Price Details | BSE | NSE |
|---|---|---|
| Final Issue Price | ₹459.00 | ₹459.00 |
| Open | ₹660.00 | ₹660.00 |
| Low | ₹625.00 | ₹625.00 |
| High | ₹680.95 | ₹681.50 |
| Last Trade | ₹654.75 | ₹654.40 |
Lead Manager Reports
MAS Financial IPO is a main-board IPO of 1,00,39,277 equity shares of the face value of ₹10 aggregating up to ₹460 Crores. The issue is priced at ₹459 per share. The minimum order quantity is 32.
The IPO opens on Fri, Oct 6, 2017, and closes on Tue, Oct 10, 2017.
MUFG Intime India Pvt.Ltd. is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.
Zerodha customers can apply online in MAS Financial IPO using UPI as a payment gateway. Zerodha customers can apply in MAS Financial IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in MAS Financial IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The MAS Financial IPO opens on Fri, Oct 6, 2017 and closes on Tue, Oct 10, 2017.
MAS Financial IPO lot size is 32, and the minimum amount required for application is ₹14,688.
You can apply in MAS Financial IPO online using either UPI or ASBA as a payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO Application is offered by brokers who don't offer banking services. Read more detail about applying IPO online through Zerodha, Upstox, 5Paisa, Nuvama, HDFC Bank, and SBI Bank.
The finalization of Basis of Allotment for MAS Financial IPO will be done on Friday, October 13, 2017, and the allotted shares will be credited to your demat account by Tue, Oct 17, 2017. Check the MAS Financial IPO allotment status.
The MAS Financial IPO listing date is on Wed, Oct 18, 2017.
