MAS Financial Services IPO

MAS Financial Services IPO

Business description from prospectus - MAS Financial Services is a Gujarat-headquartered NBFC with more than two decades of business operations. 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 Dates6 - 10 October 2017
Price BandINR456 - 459 per share
Fresh issueINR233 crore
Offer For SaleINR227.04 crore
Total IPO sizeINR460.04 crore
Minimum bid (lot size)32 shares
Face Value INR10 per share
Retail Allocation35%
Listing OnNSE, BSE
MAS Financial Services' financial performance (in INR crore)
FY2013FY2014FY2015FY2016FY2017Q1 FY2018
Total revenue143.1184.9238.2304.2364.7104.3
Total expenses102.6135.2176.5225.7258.768.1
Profit after tax27.332.640.050.868.623.4

MAS Financial Services Contact Details

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
Email:
[email protected]
Website: www.mas.co.in

Registrar of MAS Financial Services IPO

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]
Website: http://www.linkintime.co.in

Valuation of MAS Financial Services (Based on latest FY)

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

CategoryShares offeredSubscription (no. of times, at 5 PM)
Day 1Day 2Day 3
QIB1,987,0281.785.73148.33
NII1,490,2700.220.47378.53
Retail3,477,2961.016.2814.70
Employees170,3160.711.832.40
Total7,124,9101.054.81127.77

MAS Financial Services IPO Allotment Status

MAS Financial Services IPO allotment status is now available on Link Intime's website. Click on this link to get allotment status.

LISTING PERFORMANCE OF MAS Financial Services

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)

40 COMMENTS

    • There are no refunds now with ASBA. Only the money is unblocked if unalloted shares. I’ll suggest to wait for a couple of days.

    • Dear Sheetal, we are looking at the percentage and not numbers. The percentage is down in FY 2018 from 68.6% to 23.4 in FY 2018. In the next 3Qtrs how percentage will catch up.

      • That 68 and 23 are not percentages. These are actual profits in ₹ (crores). In previous year, PAT/Sale was 18.81% and in current year (1st qtr) it is 24.43%. So profit as a percentage of revenue has increased this year.

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