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( 18 Oct 2017)
MAS Financial makes steller debut, lists at 44% premium

MAS Financial, a Gujarat-headquartered non-banking financial company (NBFC), made a strong debut on the Bombay Stock Exchange by listing at Rs 660, a 44 per cent premium against its initial public offer (IPO) price of Rs 459 per share.

The company, which had got overwhelming response for its Rs 460 crore initial public offering that was subscribed over 125 times earlier this month, listed at premium price of Rs 660 on the National Stock Exchange.

After making a strong debut, shares of company touched an intra-day highs and lows of Rs 668.35 and Rs 625.00 on the BSE.

In the early trade so far, as much as 13.19 lakh shares have changed hands on the counter.

“The equity shares of MAS Financial Services Ltd (Scrip Code: 540749) are listed and admitted to dealings on the Exchange in the list of 'B' Group Securities,” said the company in a filing to the Bombay Stock Exchange.

The company has fixed a price band of Rs 456-459 per share for its initial share sale offering.

The company intends to use net proceeds from the fresh issue towards augmenting its capital base to meet future requirements. Motilal Oswal Investment Advisors Pvt Ltd is managing the company's IPO.

Meanwhile, the broader benchmark BSE Sensex was trading at 32,488.75, down 120.41 points, or 0.37 per cent, at 10:45 hours.