MAS Financial Services IPO
MAS Financial Services IPO — date, price band, lot size & details 2017
MAS Financial Services listed on 18 Oct 2017 at ₹660, 43.8% above the ₹459 issue price.
MAS Financial Services is a Gujarat based NBFC giving micro enterprise, SME, two wheeler, commercial vehicle and housing loans. Its total income was Rs 341.52 crore in FY2017.
Stock price
MAS Financial Services is listed — here is the live share price.
Researched & reviewed by
Abhishek Vohera,
Founder, IPO Guru
Last updated
Figures sourced from the RHP, BSE & NSE
Timetable
Key dates from opening to listing. Today is 14 November.
- Open 06 Oct 2017
- Close 10 Oct 2017
- Allotment 13 Oct 2017
- Refund/credit 16 Oct 2017
- Listing 18 Oct 2017
Issue summary
The terms of the offer, as filed.
| IPO Dates | 6 to 10 Oct, 2017 |
|---|---|
| Price Band | ₹456 – ₹459 |
| Face Value | ₹10 |
| Lot Size | 32 Shares |
| Issue Size | ₹460.04 Cr |
| Sale Type | Fresh capital cum OFS |
| Listing On | BSE, NSE |
| Employee Discount | Rs 45.00 per share |
| Registrar | MUFG Intime India Private Limited |
| Min Investment | ₹ 14,688 |
Share of the offer set aside for each investor category, as stated in the offer document.
What will it cost me?
Bidding is in multiples of 32 shares at the ₹459 cut-off. Drag to size your application.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 1 | 32 | ₹14,688 |
| Retail (max) | 13 | 416 | ₹1,90,944 |
| S-HNI (min) | 14 | 448 | ₹2,05,632 |
| S-HNI (max) | 68 | 2,176 | ₹9,98,784 |
| B-HNI (min) | 69 | 2,208 | ₹10,13,472 |
Strengths & risks
Drawn from the offer document — the case for and against, side by side.
Strengths · 4
- 01Total income rose from Rs 226.53 crore in FY2015 to Rs 341.52 crore in FY2017.
- 02Profit after tax rose from Rs 38.82 crore in FY2015 to Rs 67.42 crore in FY2017.
- 03It had more than 530,000 active loan accounts through 119 branches.
- 04Net worth rose from Rs 157.12 crore in FY2015 to Rs 383.60 crore on 30 June 2017.
Risks · 5
- 01Total borrowing was Rs 1,145.57 crore on 30 June 2017.
- 02Loans to micro enterprises and small businesses carry higher credit risk; total assets were Rs 2,291.40 crore.
- 03Its business is concentrated in six states and Delhi; profit was Rs 23.04 crore in the June 2017 quarter.
- 04Rs 226.67 crore of the Rs 460.04 crore issue went to selling shareholders.
- 05Promoter holding fell from 80.69% before the issue to 73.17% after it.
Three years of numbers
All figures in ₹ crore, as reported in the MAS Financial Services offer document.
| Metric | 30 Jun 2017 | 31 Mar 2017 | 31 Mar 2016 | 31 Mar 2015 |
|---|---|---|---|---|
| Assets | 2,291.40 | 2,024.48 | 1,812.65 | 1,487.79 |
| Total Income | 97.82 | 341.52 | 288.70 | 226.53 |
| Profit After Tax | 23.04 | 67.42 | 50.01 | 38.82 |
| NET Worth | 383.60 | 327.23 | 179.33 | 157.12 |
| Reserves and Surplus | 292.14 | 236.81 | 119.85 | 97.65 |
| Total Borrowing | 1,145.57 | 970.94 | 1,045.13 | 857.27 |
See how this IPO compares — view listing performance of all mainboard IPOs.
Where the money goes
₹233.00 Cr of the issue is earmarked to named objects.
MAS Financial Services IPO Anchor Investors
21 anchor investors across 13 fund houses committed ₹135.91 Cr a day before the issue opened.
Anchor investors bid a day before the issue opens and are locked in after allotment, so a book weighted towards domestic mutual funds is generally read as a stronger signal than one filled by short-horizon funds. Browse every anchor investor scheme or fund house we track.
About the company
It operated across six states and Delhi through 119 branches, and had more than 530,000 active loan accounts as of 30 September 2016.
Its products include micro enterprise loans, SME loans, two wheeler loans and commercial vehicle loans.
The IPO was Rs 460.04 crore, with Rs 233.37 crore of fresh issue and Rs 226.67 crore of offer for sale, at Rs 459, the top of the Rs 456 to Rs 459 band. The fresh money was to augment its capital base.
Interested in this IPO? Check the live subscription status or browse all upcoming mainboard IPOs.
The bankers & the filings
Who is running the book, and the documents this page is built from.
MAS Financial Services IPO Documents
Read the filings this page is built from.
Lead Manager Track Record
How the book-running lead managers on this issue have priced their past IPOs, measured on listing day.
Motilal Oswal Investment Advisors
79 issues handledBest listing: G R Infraprojects (+105.0%). Weakest: R K Swamy (-13.2%).
Listing gain compares the listing-day opening price with the issue price, using the IPOs on IPO Guru that this lead manager has taken to market. A strong record reflects how the banker has priced past issues — it is not a forecast for this one. See every issue they have handled on the lead managers page.
Company contact
Frequently asked
What is the GMP of MAS Financial Services?
The current Grey Market Premium is ₹0.
What is the MAS Financial Services IPO price band?
₹456 to ₹459, on a face value of ₹10.
When is the allotment?
The basis of allotment is 13 October 2017, with listing on 18 October 2017.
How do I check allotment status?
On the IPO Guru allotment page or on the registrar's site — MUFG Intime India Private Limited.
Every number here traces back to a filing.
IPO Guru tracks GMP, subscription and allotment for every Mainboard and SME issue. Every number on this page is sourced from the RHP, BSE & NSE.
Not investment advice. Grey market premium is an unofficial, unregulated indicator and is not a forecast.
