MAS Financial Services (MAS), a Gujarat-based non-banking financial services company (NBFC), kicked off its Rs 460 crore initial public offer (IPO) on Friday Oct 06,2017 with most brokerages suggesting 'subscribe' to the issue.
The two-decade-old NBFC's public issue comprises a fresh issue of shares worth up to Rs 233 crore and an offer for sale of up to Rs 227 crore by existing shareholders. It has fixed a price band of Rs 456-459 per share for its initial share sale offering.
On Thursday, the company allotted over 2.961 million equity shares to 15 anchor investors at Rs 459 apiece (upper end of the price band), raising about Rs 136 crore.
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