MAS Financial Services Limited to Partially Redeem 33% of OCPS in Subsidiary MRHMFL
MAS Financial Services Limited (MFSL) has announced the partial redemption of Optionally Convertible Preference Shares (OCPS) held by the company in its subsidiary, MAS Rural Housing and Mortgage Finance Limited (MRHMFL). The move is part of the terms of investment made by MFSL concerning the Series II 6% Non-Cumulative Optionally Convertible Preference Shares.According to the details released, MRHMFL has decided to partially redeem 3,33,330 OCPS. This redeemed amount constitutes 33% of the total OCPS issued in the subsidiary company.
The payment for this redemption is set at Rs. 3,33,33,333/- (Rupees Three Crore Thirty-Three Lakh ThirtyThree Thousand Three Hundred Thirty-Three only), aligning with the issuance terms and conditions established for the OCPS held by MFSL.
The transaction details are summarized below:
| Detail | Value |
|---|---|
| Subsidiary Company | MAS Rural Housing and Mortgage Finance Limited (MRHMFL) |
| Shares Redeemed | 3,33,330 OCPS |
| Redemption Percentage | 33% of total OCPS |
| Redemption Amount | Rs. 3,33,33,333/- |
MFSL stated that this redemption action will not result in any change to the equity shareholding pattern of MRHMFL. MFSL affirmed that it will continue to hold its existing equity stake within the Subsidiary Company.
MASFIN Stock Price Movement
MAS Financial Services Limited shares shed 2.42% in trading and settled at ₹310.70 today. The equity traded within the intraday range of ₹309.90 to ₹318.90.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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