MAS Financial Services raises ₹200cr via secured NCDs
MAS Financial Services just raised ₹200 crore by selling 20,000 secured non-convertible debentures (NCDs), each worth ₹1 lakh, offering a 9.75% annual interest and maturing on June 15, 2027.
The move was cleared on Wednesday, July 30, and these NCDs will soon be listed on BSE's Wholesale Debt Market.
NCDs backed by loan receivables with at least 1.1x security cover
These NCDs are backed by loan receivables with at least 1.1x security cover.
Big institutional names like HDFC Credit Risk Debt Fund and HSBC funds pitched in.
If there's a payment delay, MAS will charge an extra 2% interest per year until things are sorted out.
MAS's core lending business and recent financial performance
Based in Ahmedabad since 1995, MAS focuses on retail lending for India's lower and middle-income groups—think microenterprise, SME, housing, vehicle, and personal loans—across eight states and nearly 150 branches.
This fresh funding will boost their core lending business; last quarter alone, they posted a net profit of ₹76.57 crore—a jump of over 27% from last year.