MAS Financial Services Recommends Issuance of Bonus Shares in the Proportion of 2:1; Plans to Raise upto Rs. 700 Crores Via QIP Route

The assembly of Board of Directors of MAS Financial Services Limited (MAS Financial) (BSE: 540749, NSE: MASFIN), specialised in MSME financing, held immediately have inter-alia thought of and accepted the following issues:

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  To reward the shareholders of the firm on crossing of monumental milestone of Rs. 10,000 Crore in consolidated AUM, the board really helpful the situation of Bonus Shares in the proportion of 2:1 i.e. 2 (Two) new absolutely paid-up bonus fairness share of Rs. 10/- (Rupees Ten solely) every for each 1 (One) current absolutely paid-up fairness share of Rs. 10/- (Rupees Ten solely) every held by the shareholders of the Company as on the Record Date.

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  To gasoline the subsequent stage of the progress of the firm, the board handed an enabling decision to increase funds for an combination quantity not exceeding Rs. 700 Crores in a number of tranches by approach of a Qualified Institutions Placement (QIP), in accordance with the related provisions of relevant legislation,topic to approval of the Company’s shareholders and receipt of relevant regulatory approvals.

MAS Financial Services Limited

Commenting on board assembly consequence, Mr. Kamlesh Gandhi – Founder, Chairman & Managing Director, MAS Financial stated, “The board of administrators of the firm is delighted and unanimously recommends the issuance of Bonus Shares to reward the shareholders of the firm. While the capital base of the firm stays very robust, the enabling decision to increase capital is to additional strengthen the steadiness sheet and gasoline the subsequent stage of progress. Team MAS stays dedicated to its mission of excellence by way of endeavors.”

Incepted again in 1995, MAS is registered as non-banking monetary firm with the Reserve Bank of India. With a plethora of retail finance choices in its arsenal, MAS is concentrated on fulfilling the necessities of decrease earnings and middle-income teams of the society. The firm affords Financial Services for Micro Enterprises Loans, SME Loans, Home Loans, Two-Wheeler Loans, Used Car Loans, and Commercial Vehicle Loans to fulfill their diversified wants. The focus stays on the huge decrease earnings and middle-income teams of the society, unfold throughout city, semi city and rural areas, and together with formal and casual sector.