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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 ₹10
(aggregating up to ₹212.04 Cr)
Face Value₹10 Per Equity Share
Issue Price₹120 - ₹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 AcctMar 28, 2019
IPO Shares Listing DateMar 29, 2019

MSTC IPO Lot Size and Price (Retail)

ApplicationLotsSharesAmount (Cut-off)
Minimum190₹11,520
Maximum171530₹195,840

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

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MSTC IPO Listing Date

Listing DateFriday, March 29, 2019
BSE Script Code542597
NSE SymbolMSTC
Listing In
ISININE255X01014
Issue Price₹120 Per Equity Share
Face Value₹10 Per Equity Share

Listing Day Trading Information

.
Issue Price
Open
Low
High
Last Trade
Volume
BSE
₹120.00
₹111.00
₹110.05
₹116.55
₹114.20
74,590
NSE
₹120.00
₹115.00
₹111.00
₹120.00
₹113.95
421,066

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
   Alankit House 2E/21,
   Jhandewalan Extension,
   New Delhi - 110055

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

MSTC IPO FAQs

  1. 1. What is MSTC IPO?

    MSTC IPO is an main-board initial public offering of 17,670,400 equity shares of the face value of ₹10 aggregating up to ₹212.04 Crores.

    The issue price of the IPO is ₹120 - ₹128 Per Equity Share. The minimum order quantity is 90 Shares per application and the offer type is Book Built Issue.

    The IPO opens on Mar 13, 2019 and closes on Mar 20, 2019.

    Alankit Assignments Ltd is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.

  2. 2. When MSTC IPO will open?

    The MSTC IPO opens on Mar 13, 2019 and closes on Mar 20, 2019.

  3. 3. How to apply for MSTC IPO?

    MSTC IPO application can be done through banks using ASBA online or through stock brokers trading account using UPI. All popular banks i.e. HDFC, ICICI, and SBI offer online IPO applications. An investor can also apply directly through their broker (i.e. Zerodha, Sharekhan) using UPI as a payment method.

  4. 4. When MSTC IPO allotment?

    The finalization of Basis of Allotment for MSTC IPO will be done on Mar 25, 2019, and the allotted shares will be credited to your demat account by Mar 28, 2019. Check the MSTC IPO allotment status.

  5. 5. When is MSTC IPO listing date?

    The MSTC IPO listing date is on Friday, March 29, 2019, at BSE, NSE.

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MSTC IPO Review / Comments

Regulagedda Ambica Prasad
79. Regulagedda Ambica Prasad  Mar 29, 2019 14:24 I Like It. | Report Abuse
Nil allotment in IPO; but bought in market @ 114.5 per share ,the same as the discounted price for retail investors
anil m
78. anil m  Mar 29, 2019 11:37 I Like It. | Report Abuse
Fingers Crossed....
shambhu jain
77. shambhu jain  Mar 29, 2019 09:57 I Like It. 3 | Report Abuse
MSTC LTD. IPO
Lot Size- 90
PB- Rs 120
Discount- Rs 5.5
Listing- Rs 115
Loss per share- Rs -5
Retailer Profit per share- Rs -0.50 paisa
Retailer Profit per lot- Rs - 45
Prabahar P M
76. Prabahar P M  Mar 28, 2019 21:28 I Like It. | Report Abuse
After a long time seeing, an IPO got allotted in floor price Rs. 120. In recent past never seen an IPO allotted in floor price.
Prabahar P M
76.1. Prabahar P M  Mar 28, 2019 21:29 I Like It. 1 | Report Abuse
Election gift for traders?
Hiteshji
75. Hiteshji  Mar 28, 2019 19:53 I Like It. 1 | Report Abuse
Top Contributor Top Contributor (300+ Posts, 200+ Likes)
Listing will be @ 110.
Manoj Singh Panwar
74. Manoj Singh Panwar  Mar 28, 2019 17:37 I Like It. | Report Abuse
What is the future of MSTC
Natvarsinh
74.1. Natvarsinh  Mar 28, 2019 17:46 I Like It. | Report Abuse
Remember Mishrdhatu
Dhavalbhavsarahmedabad
73. Dhavalbhavsarahmedabad  Mar 22, 2019 20:35 I Like It. 12 | Report Abuse
PRI open 142. Buyer circuit at 149. On 29 march listing day.
Anil Singhavi
73.1. Anil Singhavi  Mar 28, 2019 15:31 I Like It. | Report Abuse
first write correct speling and then think in dream that it listed at huge premium but when you open your eyes @ 09:45 AM realize that is listed at huge discount and giving more discount with some lower circuit
Anil Singhavi
72. Anil Singhavi  Mar 28, 2019 15:29 I Like It. | Report Abuse
Current GMP : 0
means flat or negative listing expected
Priyansh Agrawal
71. Priyansh Agrawal  Mar 28, 2019 14:42 I Like It. | Report Abuse
Debit 10305
kaushik patel
70. kaushik patel  Mar 28, 2019 13:21 I Like It. | Report Abuse
Hello listing idea of MSTC ?
kaushik patel
69. kaushik patel  Mar 28, 2019 13:19 I Like It. | Report Abuse
What is the grea premium of MSTC Listing?
dpcdsl
68. dpcdsl  Mar 28, 2019 12:56 I Like It. | Report Abuse
Top Contributor Top Contributor (200+ Posts, 100+ Likes)
Bank account not yet debuted, lien exists but 90 shares credited in demat account.
SMMBD
67. SMMBD  Mar 28, 2019 12:08 I Like It. 2 | Report Abuse
got 1 lot @114.50
Sbr
66. Sbr  Mar 28, 2019 07:03 I Like It. 2 | Report Abuse
Top Contributor Top Contributor (200+ Posts)
10/17
Gupta Amit
65. Gupta Amit  Mar 27, 2019 22:41 I Like It. 1 | Report Abuse
MSTC 4/5
Natvarsinh
65.1. Natvarsinh  Mar 27, 2019 23:25 I Like It. 1 | Report Abuse
1/1 allotted
Mohit.
64. Mohit.  Mar 27, 2019 21:06 I Like It. 2 | Report Abuse
1 lot allotted
Mohit.
63. Mohit.  Mar 27, 2019 20:58 I Like It. 1 | Report Abuse
Link update now check alankit
Mohit.
62. Mohit.  Mar 27, 2019 16:17 I Like It. 7 | Report Abuse
No allotment till now
Led
61. Led  Mar 26, 2019 15:02 I Like It. | Report Abuse
mstc allotment date is 27th march
Regulagedda Ambica Prasad
61.1. Regulagedda Ambica Prasad  Mar 27, 2019 10:23 I Like It. | Report Abuse
Today after noon.
Status can be seen at http://ipo.alankit.com after 15:00 today
Manofsteel
60. Manofsteel  Mar 25, 2019 01:37 I Like It. 3 | Report Abuse
If Market Remains Stable..
Some Listing Gain can be Expected



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