This is a regulatory disclosure made by MAS Financial Services Limited (MFSL) to BSE Limited and the National Stock Exchange of India Limited under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
The disclosure intimates the partial redemption of Series II 6% Non-Cumulative Optionally Convertible Preference Shares (OCPS) of its subsidiary, MAS Rural Housing and Mortgage Finance Limited (MRHMFL). MFSL had originally subscribed to these OCPS as an investment.
Key Details of the Redemption:
- Number of OCPS Redeemed: 33,33,330
- Percentage of Total OCPS Redeemed: 33%
- Total Redemption Amount: ₹3,33,33,333 (Rupees Three Crore Thirty-Three Lakh Thirty-Three Thousand Three Hundred Thirty-Three only)
The action is described as being taken pursuant to the original terms and conditions of the OCPS issuance. The company clarifies that this redemption will not result in any change to the equity shareholding pattern of the subsidiary company, MRHMFL. MAS Financial Services Limited will continue to hold its existing equity stake in MRHMFL.
The letter is signed by Riddhi Bhaveshbhai Bhayani, Company Secretary and Chief Compliance Officer (ACS No.: 41206).