MAS Financial Services informed that its board has allotted 10,000 non-convertible debentures (NCDs) aggregating to Rs 100 crore on a private placement basis.
The firm allotted 10,000 rated, listed, senior, secured, redeemable, transferable, taxable NCDs denominated in Indian rupees, having a face value of Rs 1 lakh each.These debentures have a coupon rate of 8.45% p.a. payable monthly, and the date of maturity is 28 May 2026.
The NCDs are proposed to be listed on the Wholesale Debt Market segment of the Bombay Stock Exchange (BSE).
Further, the debentures have been rated "CARE AA-; stable" by CARE Ratings.
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.
The companys standalone net profit jumped 27.59% to Rs 76.57 crore on a 24.09% rise in revenue from operations to Rs 365.05 crore in Q2 FY25 over Q2 FY24.
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