Mumbai, Sep 17 (PTI) Non-banking financial company MAS Financial Services on Friday said it has raised Rs 100 crore through private placement of market-linked non-convertible debentures (MLDs).

The lender has allotted 1,000 MLDs of a face value of Rs 10,00,000, aggregating up to Rs 100 crore, the company said in a statement.

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The allotment of 1,000 market-linked NCDs was inclusive of a greenshoe option comprising 500 market-linked NCDs which was activated to retain over-subscription, it said.

These NCDs will offer a coupon rate of 8.50 per cent if the Reference Index Performance is greater than 75 per cent, or 8.45 per cent if the Reference Index Performance is lesser than or equal to 75 per cent but greater than 25 per cent. It will offer zero per cent if the Reference Index Performance is lesser than or equal to 25 per cent, the statement said.

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The Reference Index Performance means the performance of the Reference Index, which is 6.10 per cent government security 2031, on the final fixing date in comparison to the initial fixing date, it said.

The NCDs shall be fully redeemed on a pari passu basis on the redemption date i.e., September 18, 2023, by making the redemption payment, it said. HRS hrs

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