This is a regulatory disclosure submitted to BSE Limited and the National Stock Exchange of India Limited under Regulation 30 and other applicable regulations of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (SEBI LODR Regulations). The disclosure is also made pursuant to Chapter V and Annexure 18 of the SEBI master circular reference number SEBI/HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026.

Nature of the Event

The Finance Committee of the Board of Directors of MAS Financial Services Limited held a meeting on July 9, 2026. The primary outcome of this meeting was the allotment of non-convertible debentures (NCDs) on a private placement basis.

Key Quantitative Figures

The committee allotted 25,000 debentures.

  • Face Value per Debenture: ₹1,00,000 (Indian Rupees One Lakh)
  • Aggregate Nominal Value: ₹250,00,00,000 (Indian Rupees Two Hundred and Fifty Crore)

Instrument Details

  • Type: Rated, listed, senior, secured, redeemable, transferable, taxable, non-convertible debentures (NCDs).
  • Issuance Method: Private Placement.
  • Rating: The debentures have been rated "CARE AA-/Stable" by CARE Ratings Limited.
  • Listing: The debentures are proposed to be listed on the Wholesale Debt Market (WDM) segment of BSE Limited.
  • Issue Price: ₹1,00,000 per debenture.

Tenure and Dates

  • Date of Allotment (Deemed Date of Allotment): July 9, 2026
  • Date of Maturity (Final Redemption Date): June 12, 2028
  • Tenure: 1 year, 11 months, and 3 days from the Deemed Date of Allotment.

Coupon/Interest Structure

  • Coupon Rate: A floating interest rate, which is the aggregate of:

(a) A benchmark rate determined based on the prevailing 3-month T-bill published by Financial Benchmarks India Private Limited (FBIL).

(b) A spread of 374 basis points (bps).

  • Payment Schedule: Interest is payable on an annual basis in accordance with the Debenture Trust Deed (DTD).
  • Principal Repayment: The principal amount is payable in full on the Final Redemption Date (June 12, 2028).

Security Details

The debentures are secured. On or prior to the Deemed Date of Allotment (July 9, 2026), security is provided by:

1. A first-ranking exclusive and continuing charge created in favour of the debenture trustee via an unattested deed of hypothecation over certain identified receivables of the company (the "Hypothecated Assets"). These receivables include those arising from loans/book debts and proceeds from investments.

2. Such other security interest as may be agreed between the Company and the debenture holders.

  • Security Cover: The value of the Hypothecated Assets must be maintained at a minimum of 1.10 times the value of the outstanding amounts of the debentures at all times, from allotment until full redemption.

Default Provisions

In the event of a delay in payment of interest or principal for more than three months from the due date (a payment default):

  • Additional interest at a rate of 2% per annum over the prevailing Interest Rate will be payable on the defaulted amounts.
  • This additional interest is payable from the date of default until the default is cured or the debentures are redeemed.

Governing Documents

The rights and obligations are governed by the Debenture Trust Deed (DTD) and other transaction documents executed between the Company and the Debenture Trustee.