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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 ₹459.00 per share . The lot size for an application is 32. The minimum amount of investment required by an retail is ₹14,592 (32 shares). 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 Date | October 6, 2017 to October 10, 2017 |
| Listing Date | October 18, 2017 |
| Face Value | ₹10 per share |
| Issue Price Band | ₹456 to ₹459 per share |
| Issue Price Final | ₹459 per share |
| Lot Size | 32 Shares |
| Sale Type | Fresh Capital-cum-Offer for Sale |
| Total Issue Size | 1,00,39,277 shares (aggregating up to ₹460.04 Cr) |
| Fresh Issue | 50,92,829 shares (aggregating up to ₹233.37 Cr) |
| Offer for Sale | 49,46,448 shares of ₹10 (aggregating up to ₹226.67 Cr) |
| Employee Discount | ₹45.00 |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Share Holding Pre Issue | 4,95,69,214 shares |
| Share Holding Post Issue | 5,46,62,043 shares |
MAS Financial IPO offers total 1,00,39,277 shares. Out of which 49,35,096 (49.16%) allocated to QIB, 19,74,039 (19.66%) allocated to QIB, 14,80,530 (14.75%) allocated to NII, 34,54,569 (34.41%) allocated to RII and 29,61,057 (29.49%) allocated to Anchor investors.
| Investor Category | Shares Offered | Maximum Allottees |
|---|---|---|
| QIB Shares Offered | 49,35,096 (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 (14.75%) | NA |
| Retail Shares Offered | 34,54,569 (34.41%) | 1,07,955 |
| Employee Shares Offered | 1,69,082 (1.68%) | NA |
| Total Shares Offered | 1,00,39,277 (100.00%) |
| 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 |
MAS Financial IPO opens on October 6, 2017, and closes on October 10, 2017.
| IPO Open Date | Fri, Oct 6, 2017 |
| IPO Close Date | Tue, Oct 10, 2017 |
| Tentative Allotment | Fri, Oct 13, 2017 |
| Initiation of Refunds | Mon, Oct 16, 2017 |
| Credit of Shares to Demat | Tue, Oct 17, 2017 |
| Tentative Listing Date | Wed, Oct 18, 2017 |
| Cut-off time for UPI mandate confirmation | 5 PM on Tue, Oct 10, 2017 |
Investors can bid for a minimum of 32 shares and in multiples thereof. The following table depicts the minimum and maximum investment by Individual Investors (Retail) and HNI in terms of shares and amount.
| 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 |
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
| Particulars | For the year/period ended (in Rs. million) | |||||
|---|---|---|---|---|---|---|
| 31-Mar-17 | 31-Mar-16 | 31-Mar-15 | 31-Mar-14 | 31-Mar-13 | ||
| Total Assets | 20,244.79 | 18,126.51 | 14,877.85 | 10,776.32 | 7,715.68 | |
| Total Revenue | 3,415.17 | 2,887.04 | 2,265.28 | 1,776.78 | 1,388.47 | |
| Profit After Tax | 674.17 | 500.08 | 388.20 | 316.76 | 268.39 | |
The Company MAS Financial IPO proposes to utilise the Net Proceeds from the Issue towards the following objects:
| S.No. | Objects of the Issue | Expected Amount (₹ in crores) |
|---|---|---|
| 1 | Gross proceeds of the Fresh Issue | 233.00 |
[Dilip Davda] Moderate investment may be considered for long term in this fully priced issue. Read detail review...
| Listing Date | October 18, 2017 |
| BSE Script Code | 540749 |
| NSE Symbol | MASFIN |
| ISIN | INE348L01012 |
| Final Issue Price | ₹459 per share |
| BSE Listing Group | B |
MAS Financial Services Ltd.
6, Narayan Chambers, Ground Floor,
Behind Patang Hotel, Ashram Road,
Ahmedabad 380 009
Ahmedabad, Gujarat
Phone: +91 79 3001 6500
Email: secretarial@mas.co.in
Website: http://www.mas.co.in/
MUFG Intime India Pvt.Ltd.
Phone: +91-22-4918 6270
Email: mas.ipo@linkintime.co.in
Website: https://linkintime.co.in/Initial_Offer/public-issues.html
MAS Financial IPO is a main-board IPO of 1,00,39,277 equity shares of the face value of ₹10 aggregating up to ₹460.04 Crores. The issue is priced at ₹459 per share. The minimum order quantity is 32.
The IPO opens on October 6, 2017, and closes on October 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 October 6, 2017 and closes on October 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 Tuesday, October 17, 2017. Check the MAS Financial IPO allotment status.
The MAS Financial IPO listing date is on Wednesday, October 18, 2017.
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