MAS Financial Services raises INR 100 crore via market-linked NCDs (MLD)

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AHMEDABAD, India, June 24, 2021 /PRNewswire/ -- The Finance Committee of the Board of Directors of MAS Financial Services Limited (MAS Financial) (BSE: 540749) (NSE: MASFIN), in its meeting held on June 23, 2021 approved and allotted, on a private placement basis, 10,000 Rated, Senior, Secured, Listed, Transferable, Redeemable, Principal Protected Market-linked Non-convertible debentures (Market-linked NCDs) of face value of INR 100,000, aggregating up to INR 100 crore.

The allotment of 10,000 Market-linked NCDs, was inclusive of a green shoe option comprising 5000 Market-linked NCDs which was activated to retain over-subscription.

The debentures are rated 'CARE PP-MLD A+; Stable' by CARE Ratings Limited. The market-linked NCDs will be listed on the Wholesale Debt Market segment of The BSE Limited with a tenure of 30 months from the date of allotment.

The structuring of these market-linked NCDs will offer a coupon rate of: a. 8.50% if the Reference Index Performance is greater than 75%, and/or b. 8.45% if the Reference Index Performance is equal to or less than 75% but greater than 25%, and/or c. 0% if the Reference Index Performance is lesser than or equal to 25%.

(The Reference Index Performance means the performance of the Reference Index (i.e. 5.85% GS 2030) on the final fixing date in comparison to the initial fixing date.) The Debentures shall be fully redeemed on a pari passu basis on the redemption date i.e., December 23, 2023, by making the redemption payment (being the aggregate of the face value/outstanding principal amount, and the interest amounts in respect of each of the Debentures to be calculated in the manner mentioned above).

About MAS Financial Services Limited ( Established in 1995, MAS Financial Services Limited (BSE: 540749) (NSE: MASFIN), is one of India's leading NBFCs that specialises in the last mile delivery of credit. Since more than 2 decades, the Company predominantly focuses on the vast lower income and middle income groups of the society and offers a wide range of retail financing products for Micro Enterprises, Small & Medium Enterprises, Two-Wheeler, Used Car, Commercial Vehicle, and Home Loans through its wholly-owned subsidiary MAS Rural Housing & Mortgage Finance Ltd. (MRHMFL). The Company has a robust pan India presence through 127 strategic partner NBFCs and 99 branches serving 3,450+ locations in rural, semi-urban and urban areas of Gujarat, Maharashtra, Rajasthan, Madhya Pradesh, Tamil Nadu, and Karnataka.


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