Business description from prospectus – MAS Financial Services is a Gujarat-headquartered NBFC with more than two decades of business operations.
MAS Financial Services IPO Review -- MAS Financial IPO analysis
As of June 30, 2017, it operated across six States and the NCT of Delhi. The business and financing products are primarily focused on middle and low income customer segments, and include five principal categories: (i) micro-enterprise loans; (ii) SME loans; (iii) two-wheeler loans; (iv) Commercial Vehicle loans (which include new and used commercial vehicle loans, used car loans and tractor loans); and (v) housing loans.
The company’s promoters have significant operational experience in the financial services sector in India, and its shareholders include development finance institutions including FMO and DEG and private equity investors including Sarva Capital.
In addition to the sales team, it has entered into commercial arrangements with a large number of sourcing intermediaries, including commission based DSAs and revenue sharing arrangements with various dealers and distributors where part of loan default is guaranteed by such sourcing partners.
As of June 30, 2017, it had 332 such sourcing intermediaries for our two-wheeler loan segment and 395 such sourcing intermediaries for the Commercial Vehicle loan segment. As of June 30, 2017, it had entered into arrangements with 55 sourcing intermediaries for the housing loan segment.
Promoters of MAS Financial Services – Kamlesh Chimanlal Gandhi, Mukesh Chimanlal Gandhi, Shweta Kamlesh Gandhi and Prarthna Marketing Private Limited
|MAS Financial Services IPO details|
|Subscription Dates||6 – 10 October 2017|
|Price Band||INR456 – 459 per share|
|Fresh issue||INR233 crore|
|Offer For Sale||INR227.04 crore|
|Total IPO size||INR460.04 crore|
|Minimum bid (lot size)||32 shares|
|Face Value||INR10 per share|
|Listing On||NSE, BSE|
|MAS Financial Services’ financial performance (in INR crore)|
|Profit after tax||27.3||32.6||40.0||50.8||68.6||23.4|
MAS Financial Services Limited
6, Narayan Chambers, Ground Floor
Behind Patang Hotel, Ashram Road
Ahmedabad – 380 009
Phone: +91 79 3001 6500
Fax: +91 79 3001 6597
Link Intime India Private Limited
C-101, 1st Floor, 247 Park
Lal Bahadur Shastri Marg, Vikhroli (West)
Mumbai – 400 083
Phone: +91 22 4918 6200
Fax: +91 22 4918 6195
Email: [email protected]
Earnings Per Share (EPS): INR15.33
Price/Earnings (P/E) ratio: 29.74 – 29.94
Return on Net Worth (RONW): 20.65%
Net Asset Value (NAV): INR66.25 per share
MAS Financial Services IPO Subscription Details
|Category||Shares offered||Subscription (no.
of times, at 5 PM)
|Day 1||Day 2||Day 3|
MAS Financial Services IPO allotment status is now available on Link Intime’s website.
Click on this linkto get allotment status.
IPO Opening Date: 6 October 2017
IPO Closing Date: 10 October 2017
Finalisation of Basis of Allotment: 13 October 2017
Initiation of refunds: 16 October 2017
Transfer of shares to demat accounts: 17 October 2017
Listing Date: 18 October 2017
Listing Price on NSE: INR660 per share (up 43.8% from IPO price)
Closing Price on NSE: INR654.4 per share (up 42.6% from IPO price)