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MAS Financial Services Ltd. ( (IN:MASFIN) ) has shared an update.
MAS Financial Services Ltd. has announced an investment of Rs. 35 lakh in its subsidiary, MASFin Insurance Broking Private Limited, through a rights issue. This investment aims to enhance the subsidiary’s capital adequacy and support its application for an insurance broking license from the Insurance Regulatory and Development Authority of India (IRDAI). The acquisition is a related party transaction approved by the company’s Audit Committee and Board of Directors, reflecting MAS Financial’s strategic move to strengthen its position in the insurance broking industry.
More about MAS Financial Services Ltd.
MAS Financial Services Ltd. operates in the financial services industry, focusing on providing various financial products and services. The company has a market focus on expanding its operations within the insurance broking sector through its subsidiary, MASFin Insurance Broking Private Limited.
Average Trading Volume: 13,065
Technical Sentiment Signal: Strong Buy
Current Market Cap: 55.73B INR
For detailed information about MASFIN stock, go to TipRanks’ Stock Analysis page.