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MAS Financial Services Ltd. ( (IN:MASFIN) ) has provided an update.
MAS Financial Services Ltd. has announced the acquisition of equity shares in its subsidiary, MASFin Insurance Broking Private Limited, through a rights issue. This investment of Rs. 35,00,000 is aimed at increasing the capital of MASFin Insurance to meet the minimum capital requirements for acquiring an Insurance Broking License from the Insurance Regulatory and Development Authority of India. The transaction, which is a related party transaction, was approved by the company’s Audit Committee and Board of Directors, and is conducted at arm’s length.
More about MAS Financial Services Ltd.
MAS Financial Services Ltd. operates in the financial services industry, focusing on providing a range of financial solutions. The company is involved in various financial activities, including insurance broking 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 an in-depth examination of MASFIN stock, go to TipRanks’ Overview page.