MSTC Limited, a Mini Ratna Category-I Public Sector Undertaking (PSU) is issuing the IPO (Initial Public Offering) from 13th March 2019 to 20th March 2019 at a price of Rs 121-128/-. This article gives details of this MSTC IPO including its issue price, issue price, the market lot, issue size, listing information etc.
Company Details: MSTC Limited was founded in the year 1964 in Kolkata. At the time of inception, the motto of this company was focused around trading and dealing with the scrap export. But now it has been grown as a large diversified multiproduct service and trading company.
All the business segments of this company are classified into three classes – E-Commerce, Trading, and Recycling through MMRPL(Mahindra MSTC Recycling Pvt Ltd).
As an E-Commerce player, it stands as a leading PSU engaged in offering a variety of e-commerce services across a diversified industry segment. This company offers services in this domain such as e-auction, e-sale, e-procurement and the development of customized software and solutions. The company has the experience of more than 1,90,000 auctions through which it has served more than 1,10,000 users. During Fiscal 2018 alone, it has conducted 28,600 auctions and 30,500 auctions for nine months period ended 31st December 2018.
In the domain of trading, the company has worked as a canalizing agency for ferrous scrap import from inception to the year 1992. After that, it has established itself as a player of trading bulk raw materials. In the trading domain, it is engaged in the trading of industrial raw materials such as metallurgical coke with low ash, HR Coil, naphtha, crude oil etc which it trades on behalf of the customers. To support the steel industry, through MMRPL (Mahindra MSTC Recycling Pvt Ltd), it tends to set up an advanced auto shredding plant in India. This plant will recycle the ELVs and other white goods. by converting these into shredded scraps.
The company operates from its headquarter in Kolkata, 4 regional offices in Delhi, Mumbai, Kolkata, and Chennai and 13 branch offices situated in major cities across the country. For the half-year period ended on 30th September 2018, the total revenue of the company was Rs 14,915.50 million. The company is promoted by the President of India through the Ministry of Steel, Government of India.
Registered and Corporate Address: 225-C, A. J. C. Bose Road, Kolkata – 700 020.
Website: www.mstcindia.co.in
MSTC IPO – Issue Details
| Type of Issue | Book Built Issue IPO |
|---|---|
| Issue Starts | 13th March 2019 |
| Issue Ends | 20th March 2019 |
| Face Value | Rs 10/- |
| Issue Price* | Rs 121-128 Per Equity Share |
| Issue Size | 17,670,400 Equity Shares (Rs 226.18 Crore) |
| Market Lot | 90 Equity Shares |
| Minimum Order Quantity | 90 Equity Shares |
| Listing | BSE, NSE |
* The company is also offering a discount Rs 5.50 to retail investors and company employees.
MSTC IPO – Objects of the Issue
The following are the objects of the MSTC IPO Issue:-
- To carry out the disinvestment of 17,670,400 equity shares which constitutes the 25.10% share capital of the company.
- To achieve the benefits of the listing of equity share of the company on the stock exchange.
MSTC IPO – Lead Manager to the Issue
Equiritus Capital Private Limited
Telephone: +91-22-4332-0600
Email ID: mstcl.ipo@equiritus.com
MSTC IPO – Registrar to the Issue
Alankrit Assignments Limited
Telephone: +91-11-4254-1951
Email ID: saching@alankrit.com
MSTC IPO – Prospectus (DRHP)
Please go through this prospectus for more detailed information.
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Disclaimer: This post is just information about the issue. It does not give any advice or recommendation. Investments into securities are subject to market risk. Please read the offer document carefully before investing. It is also advised to consult your financial advisor of necessary suggestions.
Tags: #IPO #Stock Market #MSTC IPO #investments
Should we invest in MSTC IPO or not?
Good post… but also update the issue price and market lot. Thanks