New Delhi, Jun 24 (IANS): MAS Financial Services, specialised in micro, small & medium enterprises (MSME) financing, on Monday, announced that it raised Rs 500 crore through qualified institutional placement (QIP).

This QIP marks the first equity raise by the company since its initial public offering (IPO) in 2017.

"I welcome all the investors & deeply appreciate their trust and confidence while reaffirming our commitment to deliver robust financial performance by maintaining our trajectory of sustainable, consistent and quality growth as demonstrated over more than two decades," Kamlesh Gandhi, Founder, Chairman & MD, said in a statement.

The QIP issue garnered a strong response from a diverse group of marquee institutional investors reflecting broad-based interest.

The major investors include -- Nippon India Mutual Fund, ICICI Prudential Mutual Fund, Aditya Birla Sun Life Mutual Fund, Bandhan Mutual Fund, Baroda BNP Paribas Mutual Fund, White Oak Capital Management and others

Among the insurance companies, it included -- Bajaj Life Insurance, SBI General Insurance, Tata AIG Insurance, and PNB Met Life Insurance.

Birla Offshore, East Bridge Capital, Samsung Asset Management and others, were among the foreign institutions.