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The company had fixed the price band at Rs 456-459 per share for the IPO.

The category reserved for qualified institutional buyers was subscribed 7.92 times.

Quota reserved for QIB and retail investors were subscribed 4.55 times and 5.29 times.

The company has fixed a price band of Rs 456-Rs 459 for the offer and it will close on October 10.

The company received 48,20,064 bids out of a total of 71,24,910 on offer by 3:15 pm (IST).

The company intends to sell 1,80,27,464 shares (issue size) in Rs 456-459 range.

The micro and small enterprises lender has a track record of double digit revenue and profit growth.

The initial public offer (IPO) will be open to public subscription during October 6-10, MAS Financial Services said in a statement.

Net proceeds from the fresh issue will be utilised towards augmenting its capital base to meet future requirements.

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