MAS Financial Services Limited has informed the Exchange regarding allotment of 100000 securities pursuant to Non Convertible Securities at its meeting held on August 29, 2025
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MAS Financial Services Limited has allotted 1,00,000 rated, listed, senior, secured, redeemable, non-convertible debentures (NCDs) on a private placement basis, raising ₹100 crore in total. Each debenture has a face value of ₹10,000, carries an interest rate of 9.10% per annum payable monthly, and has a tenure of 24 months maturing on August 29, 2027. The NCDs are rated 'CARE AA-; Stable' by CARE Ratings and are proposed to be listed on the Wholesale Debt Market segment of BSE. The debentures are secured by a first-ranking exclusive charge on identified book debts and receivables, with a minimum security cover of 1.10 times the outstanding amount. In case of payment default, an additional 2% per annum interest will be charged over the regular rate.
The company has raised ₹100 crore of debt capital at 9.10% interest, likely to fund its lending operations. For shareholders, this is routine borrowing for an NBFC at a competitive rate backed by an AA- credit rating, and the 1.10x asset cover provides reasonable security for debenture holders. The dilution risk to equity is zero since these are pure debt instruments.