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MAS Financial Services Ltd IPO (MAS Financial IPO) Detail

October 6, 2017 - October 10, 2017

MAS Financial IPO is a book built issue of Rs 460.04 crores. The issue is a combination of fresh issue of Rs 233.00 crores and offer for sale of Rs 227.04 crores.

MAS Financial IPO bidding started from October 6, 2017 and ended on October 10, 2017. The allotment for MAS Financial IPO was finalized on Friday, October 13, 2017. The shares got listed on BSE, NSE on October 18, 2017.

MAS Financial IPO price band is set at ₹456 to ₹459 per share. The minimum lot size for an application is 32 Shares. The minimum amount of investment required by retail investors is ₹14,688.

Motilal Oswal Investment Advisors Limited is the book running lead manager of the MAS Financial IPO, while Link Intime India Private Ltd is the registrar for the issue.

Refer to MAS Financial IPO RHP for detailed information.

MAS Financial IPO Details

IPO Date October 6, 2017 to October 10, 2017
Listing Date October 18, 2017
Face Value ₹10 per share
Price Band ₹456 to ₹459 per share
Lot Size 32 Shares
Total Issue Size[.] shares
(aggregating up to ₹460.04 Cr)
Fresh Issue[.] shares
(aggregating up to ₹233.00 Cr)
Offer for Sale[.] shares of ₹10
(aggregating up to ₹227.04 Cr)
Issue Type Book Built Issue IPO
Listing At BSE, NSE

MAS Financial IPO Reservation

MAS Financial IPO offers 7,124,910 shares. 1,987,028 (27.89%) to QIB, 1,490,270 (20.92%) to NII, 3,477,296 (48.80%) to RII, 170,316 (2.39%) to employees. 108,665 RIIs will receive minimum 32 shares and (sNII) and (bNII) will receive minimum 448 shares. (in case of oversubscription)

Investor Category Shares OfferedMaximum Allottees
Anchor Investor Shares Offered-NA
QIB Shares Offered1,987,028 (27.89%)NA
NII (HNI) Shares Offered1,490,270 (20.92%)
Retail Shares Offered3,477,296 (48.80%)108,665
Employee Shares Offered170,316 (2.39%)NA
Total Shares Offered7,124,910 (100%)

MAS Financial IPO Timeline (Tentative Schedule)

MAS Financial IPO opens on October 6, 2017, and closes on October 10, 2017.

IPO Open Date Friday, October 6, 2017
IPO Close Date Tuesday, October 10, 2017
Basis of Allotment Friday, October 13, 2017
Initiation of Refunds Monday, October 16, 2017
Credit of Shares to Demat Tuesday, October 17, 2017
Listing Date Wednesday, October 18, 2017
Cut-off time for UPI mandate confirmation 5 PM on October 10, 2017

MAS Financial IPO Lot Size

Investors can bid for a minimum of 32 shares and in multiples thereof. The below table depicts the minimum and maximum investment by retail investors and HNI in terms of shares and amount.

Application Lots Shares Amount
Retail (Min) 1 32 ₹14,688
Retail (Max) 13 416 ₹190,944
Lot Size Calculator

About MAS Financial Services Ltd

Incorporated in 1995, MAS Financial Services is a Gujarat based NBFC (Non-Banking Financial Company). Company operated across six States and in Delhi through 119 branches. As of September 30, 2016 Company had more than 530,000 active loan accounts and 3,200 Customer.

MAS Financial offer product and services under 5 categories:
1. Micro-enterprise loans
2. SME loans
3. Two-wheeler loans
4. Commercial Vehicle loans
5. Housing loans

Company also have commission based direct sales agents and revenue sharing arrangements with various dealers and distributors where part of loan default is guaranteed by such sourcing partners.

Company Strengths
1. Over 2 decade in business. Track record of consistent growth with quality loan portfolio
2. Diversified product offerings
3. Access to diversified sources of capital and cost-effective funding
4. Developed an extensive operational network in Gujarat and Maharashtra
5. Robust credit assessment and risk management framework

Company Financials

Summary of financial Information (Consolidated)
Particulars For the year/period ended (in Rs. million)
31-Mar-17 31-Mar-16 31-Mar-15 31-Mar-14 31-Mar-13
Total Assets 20,244.79 18,126.51 14,877.85 10,776.32 7,715.68
Total Revenue 3,415.17 2,887.04 2,265.28 1,776.78 1,388.47
Profit After Tax 674.17 500.08 388.20 316.76 268.39

Objects of the Issue (MAS Financial IPO Objectives)

The Offer consists of the Fresh Issue and the Offer for Sale.

1. Fresh Issue
The Company proposes to utilise the proceeds from the Fresh Issue towards augmenting its capital base to meet future capital requirements.

2. Offer for Sale
The Selling Shareholders will be entitled to the proceeds of the Offer for Sale.

MAS Financial IPO Review (Apply)

[Dilip Davda]  Moderate investment may be considered for long term in this fully priced issue. Read detail review...

MAS Financial IPO Subscription Status (Bidding Detail)

The MAS Financial IPO is subscribed 128.39 times on October 10, 2017 11:15:00 PM. The public issue subscribed 15.97 times in the retail category, 148.33 times in the QIB category, and 378.53 times in the NII category. Check Day by Day Subscription Details (Live Status)

CategorySubscription (times)

MAS Financial IPO Prospectus

MAS Financial IPO Rating

Rating:Rated 4.2 stars
Vote Here ...

MAS Financial IPO Listing Details

Listing Date October 18, 2017
BSE Script Code 540749
ISIN INE348L01012
Final Issue Price ₹459 per share

Pre-Open Session - NSE Pre-Open Session - BSE

Listing Day Trading Information

Price Details
Final Issue Price
Last Trade

Check IPO Performance…

MAS Financial Services Ltd Contact Details

MAS Financial Services Ltd
6, Narayan Chambers, Ground Floor,
Behind Patang Hotel, Ashram Road,
Ahmedabad 380 009
Phone: +91 79 3001 6500

MAS Financial IPO Registrar

Link Intime India Private Ltd

Phone: +91-22-4918 6270

MAS Financial IPO - Buy or Not

MAS Financial IPO Recommendation Summary

Review By Subscribe Neutral Avoid
Brokers 1 0 0
Members 0 0 0

Read All Reviews Post Your Review Manage Reviews

MAS Financial IPO FAQs

MAS Financial IPO is a main-board IPO of [.] equity shares of the face value of ₹10 aggregating up to ₹460.04 Crores. The issue is priced at ₹456 to ₹459 per share. The minimum order quantity is 32 Shares.

The IPO opens on October 6, 2017, and closes on October 10, 2017.

Link Intime India Private Ltd is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.

The MAS Financial IPO opens on October 6, 2017 and closes on October 10, 2017.

MAS Financial IPO lot size is 32 Shares, and the minimum amount required is ₹14,688.

You can apply in MAS Financial IPO online using either UPI or ASBA as payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO application is offered by brokers who don't offer banking services. Read more detail about apply IPO online through Zerodha, Upstox, 5Paisa, Nuvama, ICICI Bank, HDFC Bank and SBI Bank.

The finalization of Basis of Allotment for MAS Financial IPO will be done on Friday, October 13, 2017, and the allotted shares will be credited to your demat account by Tuesday, October 17, 2017. Check the MAS Financial IPO allotment status.

The MAS Financial IPO listing date is on October 18, 2017.
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MAS Financial IPO Message Board

Ranked Members of Forum  Ranked Members | Members with Most Likes



986. P M |   Link |  Bookmark |November 10, 2017 7:37:22 PM (1100+ Posts, 1100+ Likes)
Again makes new life time low 575.00
986.1. KARANJAGDISHWALA |   Link |  Bookmark |November 12, 2017 8:36:22 AM
Company is giving dividend still the shares are falling drastically. hold or sell??
986.2. P M |   Link |  Bookmark |November 12, 2017 1:14:57 PM (1100+ Posts, 1100+ Likes)
Hold with stoploss around 550
985. KARANJAGDISHWALA |   Link |  Bookmark |November 12, 2017 8:35:37 AM
Can someone tell what do to with MAS?? Sell or Hold? It is just falling and falling
984. SANJAY G |   Link |  Bookmark |November 9, 2017 5:14:37 PM
Does Q2 results are not as per expectation for MAS ? which came out yesterday I think.
983. P M |   Link |  Bookmark |November 9, 2017 7:46:16 AM (1100+ Posts, 1100+ Likes)
Hits new low today @590.60 on NSE
983.1. P M |   Link |  Bookmark |November 9, 2017 9:28:37 AM (1100+ Posts, 1100+ Likes)
correction: new low on 08 Nov 2017
982. Vihaan |   Link |  Bookmark |October 31, 2017 12:32:18 PM
Bought MASFIN @669
Now it is going down
Pls suggest to hold or sell
Also tell Stop loos
982.1. Ayush |   Link |  Bookmark |November 12, 2017 5:28:40 PM
Buy at Current level and average your holding and sell it in the first up move on the stcok at...i am not seeing this stock to move beyong 625 in any case...
981. Ashutosh Sharma Kanpur Dehat |   Link |  Bookmark |October 27, 2017 4:26:21 PM
Maine ye mail GIC walon ko likhi hai...awaiting their response

Hello Sir,

Mene Khet bech ke aap ke IPO me paisa lagaya..2 lakh rupaye...aapka stock market me fail ho gaya..mera paisa wapis de do ....ab mai nahi lagaunga market me promise.
tax kaat ke wapis de do
980. IPO LEADER |   Link |  Bookmark |October 26, 2017 10:26:06 PM
IPO Mentor IPO Mentor (800+ Posts, 400+ Likes)
Hold 1000 by diwali
979. gamble |   Link |  Bookmark |October 18, 2017 10:09:40 AM (1600+ Posts, 3900+ Likes)
Do not scared of 40-50 rs movement kip strict sl 599 and hold for 700+....

Disc : alloted 32,sold half 16 @660
979.16. gamble |   Link |  Bookmark |November 14, 2017 1:55:45 PM (1600+ Posts, 3900+ Likes)
Check high dear chem cho 700+.
979.17. Chem cho |   Link |  Bookmark |November 15, 2017 1:21:07 PM
IPO Guru IPO Guru (2500+ Posts, 2700+ Likes)
978. IPO LEADER |   Link |  Bookmark |October 23, 2017 11:33:50 PM
IPO Mentor IPO Mentor (800+ Posts, 400+ Likes)
Hold For the target of 900 within 6 months
977. gamble |   Link |  Bookmark |October 23, 2017 10:58:30 AM (1600+ Posts, 3900+ Likes)
MAS hold on, AU part 2, hold for a month, sl 620,at alltime high again @680
977.1. gala |   Link |  Bookmark |October 23, 2017 7:24:28 PM
IPO Mentor IPO Mentor (500+ Posts, 200+ Likes)
Gamble Bhai any view on schand ?
Holding shares at an avg of 500 ... Need to know about it
977.2. gamble |   Link |  Bookmark |October 23, 2017 9:02:10 PM (1600+ Posts, 3900+ Likes)
Hold on,

Delivery basesd buying going on, today hugh vol on both exchange with 97% deliverables, some MF, hni interested at this range may b!!

Looking at valuation also much comfortable level of 20-21PE,PB 3x, mcap/sales 2.3
Navneet 25PE,PB 5x, m.cap/sales 3.4,

So limited(Negligible) downside frm this(455) lvls, 15-20% upside pending imo.
976. Arjun Patel |   Link |  Bookmark |October 18, 2017 4:39:42 PM
Mas Book Profit at 670~700/- Range is Good to sell.

It''s a High Proceed issue.
Better Buy Godreg Agrovet.

Rel Nippon Apply For Listing Gain
Mahindra Apply for Listing Gain Opening 31st

Upcoming IPO
Khadim 2nd November

New India & Shalby to Follow

Enjoy IPO Buzz

Arjun@Rajkot Brokers Association
Happy Diwali
976.3. Apatel |   Link |  Bookmark |October 19, 2017 11:01:41 AM
i have mas 670@1000 keep or sell
976.4. Smiter |   Link |  Bookmark |October 23, 2017 12:56:37 PM
Any idea when Future Supply CHain SOlutions would list? Its holding company Future ENterprises Ltd (FEL) will also start to run up , as it intends to pay off debt with those proceeds & other investments. FEL is a good deep value investment.
975. Chem cho |   Link |  Bookmark |October 18, 2017 3:16:32 PM
IPO Guru IPO Guru (2500+ Posts, 2700+ Likes)
975.3. Chem cho |   Link |  Bookmark |October 23, 2017 12:35:44 PM
IPO Guru IPO Guru (2500+ Posts, 2700+ Likes)
Those who brought on listing at end of day@rs 650 are happy today
975.4. Chem cho |   Link |  Bookmark |October 23, 2017 12:40:30 PM
IPO Guru IPO Guru (2500+ Posts, 2700+ Likes)
Heavy selling pressure at Rs 680 again if it crosses rs 682 then rs 690
stop loss rs 658
for those who brought at rs 650
Ipo holders stop loss may be Rs 635 but you have to decide
974. Manishsahar |   Link |  Bookmark |October 20, 2017 3:16:06 PM
I did not got allotment in MAS ipo but still my money was blocked in my sbi account.what to do.?is same happened with any other?
974.2. iRFAN kHAN |   Link |  Bookmark |October 21, 2017 10:48:04 AM
yes!! same bank SBI.... amount still blocked
974.3. iRFAN kHAN |   Link |  Bookmark |October 21, 2017 10:49:55 AM
@unisal How to complain online.. please guide or give email ID for complaint, thanks
973. iRFAN kHAN |   Link |  Bookmark |October 21, 2017 10:46:06 AM
My amount is still unblocked from the bank, please suggest what to do now!!!!!!
972. dracula |   Link |  Bookmark |October 20, 2017 11:43:33 PM
Next week I crucial now !!
Coz of we can see selling pressure & red everywhere !! Better sell mass & wait for it to come down !!
971. PavanM |   Link |  Bookmark |October 19, 2017 6:07:48 PM
IPO Mentor IPO Mentor (500+ Posts, 400+ Likes)
Dear All,
First of all Wish you all a very Safe, Happy and Healthy Diwali..
Please go through this article once.

Here is an excerpt from one of above article on pollution caused by Fire crackers.
What is at stake – our health

Crackers are a mix of deadly chemicals. Crackers not only emit more of particulate matter, nitrogen oxides, sulphur dioxide but also spew cancer causing toxins. It’s a myth that silent crackers and sparklers are safer. In fact, their coloured flames include deadly toxic metals -- strontium for red, barium for green, copper for blue, iron for gold, copper and strontium for purple. For glitter they use antimony sulphide that causes lung cancer and skin conditions. Copper compounds for blue trigger cancer, skin conditions and hormonal imbalances. Percholate is responsible for lung cancer and thyroid complications.

Pollutants settle invisibly all around us – on soil, vegetation, crop and water and through our food chain, come back to us.

Doctors are warning against breathlessness, cough, asthma, pulmonary disease, rhinitis, and lower respiratory tract infection. Those suffering from Broncho constriction, wheezing and chronic obstruction pulmonary disease need precaution. High exposures to metal particles are known to be associated with lung cancer, pneumoconiosis, emphysema and high toxic effect on cells in the long run. Though the exposure during Diwali is only short term it intensifies the already high exposure in the city.

Moreover, children are more vulnerable as they have poor defense mechanisms. Their ability to metabolise and detoxify environmental agents is different. Given their hyper level of physical activity, they inhale more volume of air than adults and therefore breathe more pollution. Joint studies of Central Pollution Control Board and Chittaranjan National Cancer Research Institute have already demonstrated that every third child in Delhi has impaired lungs.
971.1. mDelhi |   Link |  Bookmark |October 20, 2017 5:13:33 PM
Top Contributor Top Contributor (200+ Posts, 100+ Likes)
Agree with you but considering the environment crackers should be totally banned, along with those company whose industrial waste is contaminate the ground water, BS-III vehicles,Paperless IPOs etc.
970. CA Pratik |   Link |  Bookmark |October 19, 2017 7:38:56 PM
Looking Todays 1 Hour MUHARATA Session There will be Profit Booking In Next Week For Sure.

Both Main Index Fell Really Badly Thanks To Bank NIFTY. I have Never Seen This Much Profit Booking in Muharata Session.
969. KING VINOD |   Link |  Bookmark |October 19, 2017 7:36:12 PM
IPO Guru IPO Guru (2400+ Posts, 5300+ Likes)
Happy Diwali to One and all in the Chittorgarh Forum
Happy investing
May you all stay Invested in Love, Happiness, Wealth, Prosperity today, tomorrow and forever.

968. Arunblr |   Link |  Bookmark |October 19, 2017 6:56:36 PM
Top Contributor Top Contributor (400+ Posts, 100+ Likes)
967. Rajkumar Bhuj |   Link |  Bookmark |October 19, 2017 5:31:35 PM
IPO Mentor IPO Mentor (600+ Posts, 400+ Likes)
Will it cross 700 today?