The Finance Committee of the Board of Directors of MAS Financial Services Limited, specialized in MSME financing, in its meeting held on March 30, 2021 approved and allotted, on a private placement basis, 6,500 Rated, Senior Listed, Transferable, Redeemable, Principal Protected Market-linked Non-convertible debentures (Market-linked NCDs) of face value of INR 100,000, aggregating up to INR 65 crore.
The allotment of 6,500 Market-linked NCDs is inclusive of a green shoe option comprising of 1,500 Market-linked NCDs which was activated to retain over-subscription, the company informed in a statement.
Established in 1995, MAS Financial Services is an 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 wide 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 117 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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