MAS Financial Services Limited has announced that it has raised INR 100 crore via market-linked NCDs (MLD).
The Finance Committee of the Board of Directors of MAS Financial Services, in its meeting held on June 23, 2021 approved and allotted, on a private placement basis, 10,000 Rated, Senior, Secured, Listed, Transferable, Redeemable, Principal Protected Market-linked Non-convertible debentures (Market-linked NCDs) of face value of INR 100,000, aggregating up to INR 100 crore, according to a statement.
The allotment of 10,000 Market-linked NCDs, was inclusive of a green shoe option comprising 5000 Market-linked NCDs which was activated to retain over-subscription, the statement added.
Established in 1995, MAS Financial Services Limited, is a NBFC that specialises in the last mile delivery of credit. Since more than 2 decades, the Company predominantly focuses on the vast lower income and middle income groups of the society and offers a range of retail financing products for Micro Enterprises, Small & Medium Enterprises, Two-Wheeler, Used Car, Commercial Vehicle, and Home Loans through its wholly-owned subsidiary MAS Rural Housing & Mortgage Finance Ltd. (MRHMFL).
The Company has a pan India presence through 127 strategic partner NBFCs and 99 branches serving 3,450+ locations in rural, semi-urban and urban areas of Gujarat, Maharashtra, Rajasthan, Madhya Pradesh, Tamil Nadu, and Karnataka.
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