Subsidiary Company, pursuant to conversion of 6% Non-Cumulative Optionally Convertible Preference Shares…
As filed · General Updates
What happened
FactSubsidiary Company, pursuant to conversion of 6% Non-Cumulative Optionally Convertible Preference Shares. made by MAS Financial Services Limited (“the Company” or “MFSL”) by way of subscription of 6% Non-Cumulative. approved and allotted 3,33,333 Equity Shares of Subsidiary Company at the offer price of Rs. 100/- to MFSL pursuant.
Why it matters
CapitSignal interpretationAn acquisition spends cash or issues shares today for earnings that arrive later, so the price paid and the funding route decide whether holders gain.
What management said before
Prior statements by this company that CapitSignal has recorded changing.
Demand
RevisedIndia’s housing finance market is expected to surge at a robust 13% CAGR.
According to a CRISIL report, the outstanding credit in the overall vehicle financing segment is expected to grow at a very healthy CAGR of 16% - 18% from fiscal 2023-27 reaching the size of ` 21 Lakhs Crores and more.
Change
FactImplication
CapitSignal interpretationDebt
RevisedWith respect to capital adequacy, we remain strong at 23.25% with Tier 1 capital at 21.94% and debt equity ratio at 3.35x.
The average cost of borrowing during the quarter stood at 9.25%, reflecting a reduction of 55 basis points compared to corresponding period last year and around 15 basis points compared to March quarter.
Change
FactImplication
CapitSignal interpretationGuidance
WithdrawnTargeting ROA in the range of 2.75% to 3.00% and ROE in the range of 16% to 18%.
Our capital adequacy provides adequate headroom to support our medium-term growth strategy.
Change
FactImplication
CapitSignal interpretationWatch next
Fact- Consideration and how it is funded
- Revenue and profit of the target
- Expected completion date
- Credit growth for the sector is projected at 13-14% for FY 2023-24, with a further CAGR of 13-15% anticipated (management committed by FY24)
- According to a CRISIL report, the outstanding credit in the overall vehicle financing segment is expected to g (management committed by FY27)
Evidence
- MAS Financial Services Limited has informed the Exchange about General Updates(opens the original filing in a new tab)
- Earlier statement · FY24
- Latest statement · FY24
- Earlier statement · Q1 FY27
- Latest statement · Q1 FY27
- Earlier statement · Q1 FY27
- Latest statement · Q1 FY27
How CapitSignal classified this
- Reasoning:
- ACQUISITION base 74; +5 quantified amount; +3 quantified percentage; matched on subject
- Matched on:
- the filing's own subject line
- Confidence in the event type:
- 75%