MAS Financial Services Limited (the "Company") has made a regulatory disclosure pursuant to Regulation 30 and other applicable regulations of the SEBI LODR Regulations.
The Finance Committee of the Board of Directors of the Company, in its meeting held on Tuesday, June 30, 2026, allotted 15,000 (fifteen thousand) rated, listed, senior, secured, redeemable, transferable, taxable, non-convertible debentures (NCDs) on a private placement basis.
Key Instrument Details
- Face Value: INR 1,00,000 (Indian Rupees One Lakh) per debenture
- Aggregate Nominal Value: INR 150,00,00,000 (Indian Rupees One Hundred and Fifty Crore)
- Type: Rated, listed, senior, secured, redeemable, transferable, taxable, non-convertible debentures denominated in Indian Rupees
- Issuance Method: Private Placement
- Rating: "ACUITE AA (Stable)" by Acuité Ratings & Research Limited
- Listing: The Debentures are proposed to be listed on the Wholesale Debt Market segment of BSE Limited
Tenure and Payment Schedule
- Date of Allotment: June 30, 2026 ("Deemed Date of Allotment")
- Date of Maturity: June 30, 2030 ("Final Redemption Date")
- Tenure: 48 (forty eight) months from the Deemed Date of Allotment
- Coupon Rate: 8.90% (eight decimal nine zero percent) per annum payable monthly. This rate comprises the aggregate of (a) the prevailing external benchmark-based lending rate (EBLR) of IDFC FIRST Bank Limited (as reset on a quarterly basis), and (b) a spread of 115 (one hundred and fifteen) basis points.
- Interest Payment: Payable on a monthly basis in accordance with the debenture trust deed (DTD)
- Principal Payment: Payable on a semi-annual basis until the Final Redemption Date in accordance with the DTD
Security Details
The Debentures and outstanding amounts are secured by:
- A first ranking exclusive and continuing charge created in favour of the debenture trustee via an unattested deed of hypothecation over certain identified book debts/loan receivables of the Company (the "Hypothecated Assets")
- Such other security interest as may be agreed between the Company and the holders of the Debentures
- The value of the Hypothecated Assets shall at all times be maintained at least 1.1 (one decimal one) times the value of the outstanding amounts in respect of the Debentures
Default Provisions
On occurrence of a payment default, additional interest at 2% (two percent) per annum over the prevailing Interest Rate will be payable on outstanding amounts from the date of default until cured or redeemed.