Meanwhile, the S&P BSE Sensex was down 33.19 points or 0.1% at 32,575.97.

Shares of MAS Financial Services listed at Rs 660 on BSE, a premium of 43.79% over the issue price. The stock had hit a high of Rs 680.95 and a low of Rs 625 so far during the day. On the BSE, 24.05 lakh shares were traded on the counter so far.

MAS Financial Services' initial public offer (IPO) received bids for 91.47 core shares, data on NSE showed. The IPO was subscribed 128.39 times. The price band for the IPO was Rs 456-459 per share. The issue had opened on 6 October 2017 and closed on 10 October 2017.

Category wise, the qualified institutional buyers (QIBs) category was subscribed 148.33 times. The non institutional investors (NIIs) category was subscribed 378.53 times. The retail individual investors (RIIs) category was subscribed 15.97 times.

MAS Financial Services' IPO committee of the company at a meeting held on 5 October 2017, finalized allocation of 29.61 lakh shares to 15 anchor investors at the upper end of the IPO price band at Rs 459 per share, aggregating to Rs 135.91 crore.

On consolidated basis, MAS Financial Services reported net profit of Rs 23.70 crore on income from operations of Rs 104.02 crore in Q1 June 2017.

MAS Financial Services is a Gujarat-headquartered non-banking finance company (NBFC) providing loans to middle- and low-income borrowers as well as micro, small and medium enterprises.