MAS Financial Services added 1.89% to Rs 318.50 after the firm announced that it has raised Rs 500 crore (including green shoe option of Rs 100 crore) through a qualified institutional placement (QIP).
The issue price is Rs 286.25 per share with a face value of Rs 10 each. The total number of paid-up equity shares after allotment is 18.14 crore.Kamlesh Gandhi, Founder, chairman & managing director said, On behalf of team MAS, I heartily welcome all the investors & deeply appreciate their trust and confidence while reaffirming our commitment to deliver robust financial performance by maintaining our trajectory of sustainable, consistent and quality growth as demonstrated over more than two decades. Team MAS remains committed to its mission of Excellence through Endeavors.
MAS Financial Services is a non-deposit accepting NBFC. While the company initially provided consumer durable financing, it currently provides corporate loans to NBFC-MFIs and other NBFCs engaged in retail finance, small ticket business loans, small commercial vehicle loans, two-wheeler loans and machinery finance. The company is predominantly present in Gujarat, Rajasthan and Maharashtra. As on 30 September 2022, it had a presence in seven states and the Delhi National Capital Region (Delhi/NCR) through 147 branches.
The companys net profit jumped 22.5% to Rs 68.05 crore on 23% increase in revenue from operations to Rs 328.10 crore in Q4 FY24 over Q4 FY23.
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