September 28, 2017 / 7:22 AM / in 22 days

MAS Financial Services IPO to open on Oct 6

Buildings are reflected on the glass windows of the NSE (National Stock Exchange) building in Mumbai, India, December 27, 2016. Picture taken December 27, 2016. REUTERS/Shailesh Andrade/File Photo

REUTERS - Indian non-banking financial company MAS Financial Services Ltd’s initial public offering of shares to raise up to 4.6 billion rupees ($70 million) will run from Oct. 6 to Oct. 10, according to a public notice issued on Thursday.

The company has set a price range of 456 rupees to 459 rupees a share for the sale, the notice showed.

MAS is looking to raise up to 2.33 billion rupees by selling new shares, while selling shareholders are offering up to 2.27 billion rupees.

Motilal Oswal is the sole banker managing the sale.

($1 = 65.6650 rupees)

Reporting by Samantha Kareen Nair in Bengaluru; Editing by Devidutta Tripathy and Subhranshu Sahu

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