MAS Financial plans to raise Rs2,275 crore through the share sale with a price band of Rs456-459 per share. Photo: BloombergNew Delhi: The initial share sale of MAS Financial Services Ltd, a Gujarat-based non-banking finance company (NBFC) was fully subscribed, the first day of the IPO. The portion of shares reserved for retail investors and non-institutional investors were subscribed 1.02 times and 0.23 times, respectively. Established in 1995, MAS Financial is an NBFC, primarily focused on middle and low-income customer segments. At the upper end of the price band, the initial share sale values the NBFC at approximately Rs2,275 crore.

Source: Mint October 06, 2017 07:14 UTC