Published on Friday, February 22, 2019 by Chittorgarh.com Team
Incorporated in 1964 as a trading company to regulate the export of scrap, MSTC Ltd. (Erstwhile known as Metal Scrap Trading Company Ltd.) has now grown into a large diversified, multi-product services and Trading Company. It is a canalizing agency for import of ferrous scrap until 1992. After de-canalization, the Company has established itself as one of the leading e-commerce service providers in the country and also is one of the major players in trading of bulk raw material. It has also entered into the recycling business through a 50:50 joint venture with MIL for setting up a shredding plant and collection centers across the country. In synopsis, it can be stated that there are three main business verticals in the Company which are namely
Currently, it is one of the leading PSU entity engaged in providing e-commerce related services across diversified industry segment offering e-auction/e-sale, e-procurement services and development of customized software/solutions. MSTC has emerged as a pioneer in the e-auction segment catering to the Government sector, partnering with different Government agencies and ministries in conducting e-Auctions. It is one of the key players offering a comprehensive range of services in e-procurement segment. It offers end-to-end solutions through its e-commerce platform.
Headquartered in Kolkata, it has the advantage of a country-wide footprint with four regional offices located in Delhi, Mumbai, Kolkata and Chennai, fifteen branch offices in major cities of India and one site office at Vijayawada. The regional and branch offices are primarily set up to increase customer reach.
The Company developed E-RaKAM portal which is supported by its marketing and logistic partner CRWC Limited. E-RaKAM is the digital initiative bringing together the farmers, FPOs, PSU, civil supplies and buyers on a single platform to ease the selling and buying process of agricultural products.
MSTC has recently launched JaivikKheti portal for sale of organic farm produce throughout India at the behest of Ministry of Agriculture, GoI. Organic farmers serve as the sellers, and the bidders include a variety of processors, traders, and even individual consumers. The transactions are to be conducted on a fixed-price basis as well as through competitive bidding. While the portal currently only provides for the sale of organic farming produce, the company aims to further diversify the agricultural products that will be auctioned through this portal over a period of time.
Details of MSTC IPO will be announced soon as it plans to tap the primary market in March 2019.
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