MAS Financial Services raises INR 65 crore through market-linked NCDs (MLD)

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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Arya has been a part of the Content & Research Team at Hrnxt.com. She is a keen observer of  economic developments, emerging businesses, people in business and keeps a tab on latest happenings in the business environment.

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