MAS Financial Services Ltd
Complete IPO details, including price band, financials, subscription status, and key insights.
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Financial Performance
Revenue, profit after tax and total assets across the last 3 reported financial years.
Revenue
Amount in ₹ crore
Profit After Tax (PAT)
Amount in ₹ crore
Total Assets
Amount in ₹ crore
Figures in ₹ crore, on a consolidated basis, as reported for FY24 to FY26.
Objects of the Issue
How the company plans to utilize IPO proceeds.
Use of Proceeds
The funds raised through this IPO will be used for:
Initial public offering of 10,039,277 ** equity shares of face value of Rs. 10 each ("equity shares") of MAS Financial Services Limited (the "company" or the "issuer") for cash at a price of Rs. 459* per equity share including a share premium of Rs. 449* per equity share (the "offer price"), aggregating to Rs. 460.04 Crores (the "offer") comprising of a fresh issue of 5,092,829** equity shares by the company aggregating to Rs. 233 Crores (the "fresh issue") and an offer for sale of 2,454,532 ** equity shares aggregating to Rs. 227.04 Crores by the selling shareholders, comprising an offer for sale of 2,454,532** equity shares aggregating to Rs. 112.66 Crores by Deg - Deutsche Investitions - Und Entwicklungsgesellschaft Mbh ("Deg"), an offer for sale of 1,728,496** equity shares aggregating to Rs. 79.34 Crores by Nederlandse Financierings - Maatschappij Voor Ontwikkelingslanden N. V. ("Fmo") and an offer for sale of 763,420** equity shares aggregating to Rs. 35.04 Crores by Sarva Capital LLC ("Sarva Capital", and together with deg and fmo, the "selling shareholders") ("offer for sale"). The offer includes a reservation of 169,082** equity shares aggregating to Rs. 7 Crores for eligible employees (defined hereinafter) (the "employee reservation portion"). The offer less the employee reservation portion is referred to as the "net offer". The offer and the net offer shall constitute 18.37%** and 18.06%** of the post-offer paid up equity share capital of the company, respectively. The company has, in consultation with the brlm, undertaken a private placement of 3,990,422 equity shares for cash consideration aggregating to Rs. 135 Crores ("Pre-IPO placement"). The size of the fresh issue, as disclosed in the draft red herring prospectus, has been reduced accordingly. See "capital structure" on page 76 for details of the pre-ipo placement. * A discount of Rs. 45 on the offer price was offered by the company and the selling shareholders, in consultation with the brlm to eligible employees bidding in the employee reservation portion ("employee discount"). ** subject to finalisation of basis of allotment The face value of the equity share is Rs. 10 each. The offer price is Rs.459 per equity share and is 45.9 times the face value of the equity shares.
*Subject to approvals and market conditions.
Strengths & Risks
Key competitive advantages and factors to consider before investing.
- Company, Promoters, Directors and its Subsidiary are involved in certain legal proceedings, any adverse developments related to which could materially and adversely affect its business, reputation and cash flows.
- Company's business operations involve transactions with relatively high risk borrowers. Any default from its customers could adversely affect its business, results of operations and financial condition.
- Company extend loans to other financial institutions such as MFIs, NBFCs and HFCs. If there is a default by these financial institutions or if it is unable to maintain its relationships with these institutions, its business, financial condition and results of operations may be adversely affected.
- As an NBFC,it is subject to periodic inspections by the RBI. Non-compliance with observations made by RBI during these inspections could expose it to penalties and restrictions.
- Company's inability to maintain relationships with its sourcing intermediaries could have an adverse effect on its business, prospects, results of operations and financial condition.