MAS Financial Services subscribed 49% on Day 1 so far

Moneycontrol News

The initial public offering (IPO) of MAS Financial Services was subscribed 49 percent on the first day of the issue.

For a total issue size of 71,24,910 shares, the company received bids for 35,24,160 shares, data from NSE as of 1:30 pm showed.

MAS Financial Services' initial share sale offer opened for subscription on October 6, with a price band of Rs 456-459 per share.

Equity shares are proposed to be listed on National Stock Exchange and BSE Limited.

The non-banking finance company is expected to debut on bourses on Wednesday, October 18. The issue will close on October 10.

Motilal Oswal Investment Advisors is the sole book running lead manager to the offer while Link Intime India is the registrar.

Multiple brokerages recommend subscribing to the issue and believe the valuations are a tad on the higher side, but the company has growth potential as well.