June 30, 2012
MAS Financial Services Limited, a leading retail non-banking financial company (NBFC) in Gujarat, has raised growth capital from DEG – Deutsche Investitions- und Entwicklungsgesellschaft mbH
About DEG - Deutsche Investitions- und Entwicklungsgesellschaft mbH
DEG, a subsidiary of KfW and one of Europe's largest development finance institutions, finances investments of private companies in developing and transition countries. DEG has been committed to private-sector investments in India since 1964. DEG’s India portfolio currently stands at over EUR 500 million spread across about 50 companies.
DEG has Invested 50 Cr. by way of compulsorily convertible debentures at a premium of 15 Cr. The investment was made in two tranches in the month of July and September 2012 respectively.
Avendus Capital was the financial advisor to MAS Financial Services Ltd.