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MSTC Limited IPO (MSTC IPO) Detail

Mar 13, 2019 - Mar 20, 2019

Incorporated in 1964, Kolkata based MSTC Limited is a public sector unit (PSU) involved in the trading of bulk raw material and e-commerce service provider to government and government-controlled entities.

The company was previously a canalizing agency (an enterprise created specifically to import and/or export of ferrous scrap) until 1992. After de-canalisation it has established itself as an e-commerce service provider and a major player in trading of bulk raw material.

In FY 2017, the company entered into the recycling business through a 50:50 joint venture with Mahindra Intertrade Ltd (a subsidiary of Mahindra Vehicle Manufacturers Ltd) by forming a new company Mahindra MSTC Recycling Pvt Ltd (MMRPL). This new firm is in the business of auto shredding, processing of end of life vehicles (ELVs), other white goods and products for the production of iron and non-iron shredded scrap

The 3 main business verticals in the company are:

(i) E-commerce,
(ii) Trading of bulk raw material
(iii) Recycling through MMRPL.

Since 2002, the company is offering e-auction platforms to many Government and Government controlled entities. As on December 31, 2018, MSTC has conducted over 1,90,000 auctions, serving over 1,10,000 users. It has conducted 28,600 auctions/events during 2018 and 30,500 auctions/event for nine months period ended December 31, 2018.

MSTC was the company behind developing E-RaKAM portal, a digital initiative bringing together the farmers, FPOs, PSU, civil supplies and buyers on a single platform for selling and buying of agricultural products.

MSTC has a country-wide footprint with 4 regional offices located in Delhi, Mumbai, Kolkata and Chennai, 13 branch offices in major cities of India and 3 site offices.

For Fiscals 2018, 2017 and 2016, the total revenue of the company was Rs 27,931.50 million, Rs 18,762.00 million, and Rs 33,078.00 million respectively.

The revenues from trading vertical are Rs 22,627.50 million, Rs 13,854.10 million and Rs 28,114.70 million for Fiscal 2018, 2017 and 2016 respectively.

The revenues from e-commerce vertical are Rs 1,900.60 million, Rs 1,618.80 million and Rs 1,277.50 million for Fiscal 2018, 2017 and 2016 respectively.

The EBITDA for Fiscals 2018, 2017 and 2016 was Rs 1,131.99 million, Rs 2,626.40 million and (Rs 853.50) million respectively.

Competitive strengths of the company:

1. One of the leading PSU providing e-commerce services.
2. Diversified customer portfolio
3. The active client base of government and government-controlled entities.
4. Preferred service provider for conducting e-auctions for government bodies

Company Promoters:

The Promoter of the company is the President of India, acting through the MoS. The Promoter currently holds 89.85% of the pre-Offer paid-up Equity Share capital of the Company.

Company Financials:

Summary of financial Information (Restated)
Particulars For the year/period ended (in Rs. Million)
30-Sep-18 31-Mar-18 31-Mar-17 31-Mar-16
Total Assets 42,566.28 47,378.56 45,998.14 41,621.75
Total Revenue 14,915.50 27,931.50 18,762.00 33,078.00
Profit After Tax (158.84) (64.81) 1,391.50 (2,471.00)

Objects of the Issue:

The objects of this Offer are to:

1. Carry out the disinvestment of Equity Shares by the Selling Shareholder in the company
2. Achieve the benefits of listing the Equity Shares on the Stock Exchanges.
The Company will not receive any proceeds from the Offer and all proceeds will go to the Selling Shareholder.

MSTC IPO Details

Issue OpenMar 13, 2019 - Mar 20, 2019
Issue TypeBook Built Issue IPO
Issue Size17,670,400 Eq Shares of Rs 10
(aggregating up to Rs 226.18 Cr)
Face ValueRs 10 Per Equity Share
Issue PriceRs 120 - Rs 128 Per Equity Share
Retail DiscountRs 5.50 per Equity Share
Employee DiscountRs 5.50 per Equity Share
Market Lot90 Shares
Min Order Quantity90 Shares
Listing AtBSE, NSE

MSTC IPO Tentative Date / Timetable

Bid/Offer Opens OnMar 13, 2019
Bid/Offer Closes OnMar 20, 2019
Finalisation of Basis of AllotmentMar 25, 2019
Initiation of RefundsMar 26, 2019
Credit of Shares to Demat Acct:Mar 28, 2019
IPO Shares Listing Date:Mar 29, 2019

MSTC IPO Promoter Holding

Pre Issue Share Holding89.85%
Post Issue Share Holding64.75%

IPO Notices

External Link

MSTC IPO closing date extended / price revised

Lead Manager of the MSTC Limited issue, has informed the Exchange that the issue closure date has been extended to 20 March 2019. Post issue modification date has been revised to 22 March 2019.

The price band has been revised from Rs. 121 to Rs. 128 To Rs. 120 to Rs. 128 per share.

MSTC IPO Subscription Status (Bidding Detail)

MSTC IPO how much subscribed?

No. of Times Issue Subscribed (BSE + NSE)

As on Date & Time

QIB

NII

RII

Employee

Total

Shares Offered

13,200,000

2,640,000

1,760,000

70,400

17,670,400

Mar 20, 2019 17:00

1.13x

2.15x

2.95x

1.54x

1.46x

MSTC IPO Prospectus

MSTC IPO Rating

437
3.7
Rating:Rated 3.7 stars

Vote Here ...

MSTC IPO Reviews / Ratings

Company Contact Information

MSTC Limited
225-C,
A. J. C. Bose Road
Kolkata - 700 020

Phone: +91-033-2281-3088
Email: cosec@mstcindia.co.in
Website: http://www.mstcindia.co.in/

MSTC IPO Registrar

Alankit Assignments Ltd   »  Report
   Alankit House 2E/21,
   Jhandewalan Extension,
   New Delhi - 110055

Phone: (011) 4254 1234
Email: sarunraj@alankit.com
Website: http://www.alankit.com

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MSTC IPO Review / Comments

avatar
62. Led  Mar 26, 2019 15:02 I Like It. | Report Abuse Reply
mstc allotment date is 27th march
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61. Manofsteel  Mar 25, 2019 01:37 I Like It. 2 | Report Abuse Reply
If Market Remains Stable..
Some Listing Gain can be Expected
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60. Dhavalbhavsarahmedabad  Mar 22, 2019 20:35 I Like It. 6 | Report Abuse Reply
PRI open 142. Buyer circuit at 149. On 29 march listing day.
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59. Regulagedda Ambica Prasad  Mar 21, 2019 12:09 I Like It. | Report Abuse Reply
Retained one and withdrew one application.
Every retail investor may be allotted 1lot.
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58. dpcdsl  Mar 20, 2019 19:08 I Like It. | Report Abuse Reply
Top Contributor Top Contributor (200+ Posts, 100+ Likes)
Ultimately it sailed smoothly.
One may hope surprising good listing now with fingers crossed.

Initially some were afraid of non allotment due to small size of issue with only 10% for RII.
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57. JAP  Mar 20, 2019 17:13 I Like It. 1 | Report Abuse Reply
Anyone give suggestion regarding Listing Price, as all categories over-subscribed.
Thank in Advance
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57.1. Nitin Parmar  Mar 20, 2019 17:18 I Like It. 5 | Report Abuse
Expecting a good listing gain....
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56. Mohit.  Mar 20, 2019 13:42 I Like It. | Report Abuse Reply
Now qib starts
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55. vishalbj  Mar 18, 2019 15:54 I Like It. 6 | Report Abuse Reply
As in unlisted grey market this share was sold for 300+ in last 3 month trading and main thing to see in this IPO is they have write off their debts of 2011-2014 in current year balance sheet so it came in negative / loss else company is good also you can check on dividend yield they have paid in past years cums to above 7% according to current IPO rate
Also best part cums here of this company that in this IPO retails part alloted is very less just 10% and asume that before IPO 10% more was circulating in grey market premium that will be locked for one year ( tarded at 300+) so for averaging the loss of unlisted share who bought at 300+ will cum through ipo or buying in open market so price may bump in retail section to cover loss
else ecommerce business of this company is good and is only psu company handling all big companies auction through its portal
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54. yazoo  Mar 18, 2019 15:22 I Like It. 5 | Report Abuse Reply
Question about MSTC ltd ... at what price will one buy a scrap business of the govt ... wonder who bought the shares on offer at premium valuations?

Scrap business is only profitable if scrap is bought at scrap value . scrap can also be bought at high prices to profit select entities.. do govt cos serve the people of the country or the babus netas and likes ?

Dredging corp is a great example of a corporate that is run for profiting politicians , management babus and its staff ... This can be another dredging in the medium term
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53. 👉 IPO Adhyadesh 💃  Mar 16, 2019 16:47 I Like It. 16 | Report Abuse Reply
IPO Mentor IPO Mentor (500+ Posts, 1200+ Likes)
Repeat of GRSE.
Price band revised from 115-118 to 114-118 but allotted at 118 , listed at 103 and closed at 95 !
Its Soul is roaming here at MSTC.

By reducing 1 rupee lower price band jaitley is playing with our sentiments.He think we all are fool.
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53.1. DownriteVJ  Mar 18, 2019 11:27 I Like It. 7 | Report Abuse
IPO Guru IPO Guru (1000+ Posts, 800+ Likes)
Agreed but there are people who will help this get full subscribed like it has now.
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52. MOHIT JAIN  Mar 15, 2019 16:52 I Like It. 7 | Report Abuse Reply
Gajab hai wo log jo aise issue mai apply karte hai. Hal, bharat dynamic,superb example. even market at lifetime high not a single psu provide positive returm in last 1 yr.still mostly psu company are availble at least 20 -25 percent discount from last yr high.hudco eil pnb bob are few examples.
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52.1. ASHISH PATEL  Mar 15, 2019 19:02 I Like It. 1 | Report Abuse
ELECTION IS ON THE WAY SO ALL PSU STOCK CATCH FIRE FOR THE MODI GOVERNMENT SO EXPECTED GOOD RETURN IN THIS ISSUE
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51. IPO ANALYSTS 📣  Mar 16, 2019 19:25 I Like It. 1 | Report Abuse Reply
Socho Bhai ek bar:

Just Lower price band changed and upper is still intact to 128.
Giving 5.5 Rs discount offer to trap retailers.

Have you seen any IPO which is extended and gave good listing gain??

Simple Avoid it, not seeing any demand for this IPO.

SHOULD NOT TAKE RISK FOR LISTING GAIN...

imo
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50. NforNandkishor  Mar 16, 2019 17:41 I Like It. | Report Abuse Reply
Can I withdraw my from application. I have applied through axis bank account and my demat account is with Zerodha
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50.1. NforNandkishor  Mar 16, 2019 19:12 I Like It. | Report Abuse
Axis bank is not showing the MSTC ipo option for withdrawal application tab...
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49. Hiteshji  Mar 16, 2019 15:52 I Like It. 1 | Report Abuse Reply
Top Contributor Top Contributor (200+ Posts, 100+ Likes)
Fare price 60. Avoid.
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48. Kanhaiyalal sharma  Mar 16, 2019 11:29 I Like It. 2 | Report Abuse Reply
Ye bat samajh men nahi aa raha hai ki jab IPO fully subscribe ho gaya retail aur employees ke badoulat to phir date aage kyon kiya gaya hai aur lower price band 121se120kiya magar upar wala 128 ka 128 hi rakha koi samjha paye to please bataye
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48.1. papon  Mar 16, 2019 14:42 I Like It. | Report Abuse
Retailers and hni subscription doesn't matter unless qib fully subscribe
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47. papon  Mar 16, 2019 14:41 I Like It. 1 | Report Abuse Reply
Whenever there is extention of dates negative listing is almost certain. And they are making us fool by not changing the upper price & changing the lower price only.
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46. Vijay M Agrawal  Mar 16, 2019 12:06 I Like It. 1 | Report Abuse Reply
BECAUSE QIB ME GOVT INSTITUTES LIKE LIC SE BIDDING KARAI GAI HAI. RETAILERS KO FASANE KI CHAL HAI. RETAILERS LALACH ME AAKAR AUR JYADA BIDDING KARE AUR QIB BIDS CANCEL KAR DEVE. BID CANCEL KARNE KI LAST DATE 22/03/2019 HAI
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45. 👉 IPO Adhyadesh 💃  Mar 15, 2019 22:53 I Like It. 2 | Report Abuse Reply
IPO Mentor IPO Mentor (500+ Posts, 1200+ Likes)
Anybody applied through UPI ?
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44. Team Chittorgarh.com  Mar 15, 2019 22:01 I Like It. | Report Abuse Reply
MSTC IPO issue closure date has been extended to 20 March,2019.

Price band has been revised from 121 to Rs. 128 To Rs. 120 to Rs. 128 per share.

Thank you,

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43. ANANDA PRAJAPATI  Mar 15, 2019 19:42 I Like It. 2 | Report Abuse Reply
what about CPSE ETF FFO 4. can i apply or not?



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