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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

IPO Opening Date Mar 13, 2019
IPO Closing Date Mar 20, 2019
Issue Type Book Built Issue IPO
Face Value ₹10 per equity share
IPO Price ₹120 to ₹128 per equity share
Market Lot 90 Shares
Min Order Quantity 90 Shares
Listing At BSE, NSE
Issue Size17,670,400 Eq Shares of ₹10
(aggregating up to ₹212.04 Cr)
Retail Discount Rs 5.50 per Equity Share
Employee Discount Rs 5.50 per Equity Share

MSTC IPO Tentative Timetable

The MSTC IPO open date is Mar 13, 2019, and the close date is Mar 20, 2019. The issue may list on Mar 29, 2019.

IPO Open Date Mar 13, 2019
IPO Close Date Mar 20, 2019
Basis of Allotment Date Mar 25, 2019
Initiation of Refunds Mar 26, 2019
Credit of Shares to Demat Account Mar 28, 2019
IPO Listing Date Mar 29, 2019

MSTC IPO Lot Size

The MSTC IPO market lot size is 90 shares. A retail-individual investor can apply for up to 17 lots (1530 shares or ₹195,840).

Application Lots Shares Amount (Cut-off)
Minimum 1 90 ₹11,520
Maximum 17 1530 ₹195,840

MSTC IPO Promoter Holding

Pre Issue Share Holding 89.85%
Post Issue Share Holding 64.75%

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 Review

Due to negative earnings following aggressive provisioning, prima facie this issue looks costly. But considering dividend yield and the bright prospects with its many new initiatives for a green environment and digital platforms. Investors may consider this issue for long term investment. Read detail review...

MSTC IPO Subscription Status (Bidding Detail)

The MSTC IPO is subscribed 1.46 times on Mar 20, 2019 5:00:00 PM. The public issue subscribed 2.95 times in the retail category, 1.13 times in the QIB category, and 2.15 times in the NII category. Check Day by Day Subscription Details (Live Status)

CategorySubscription (times)
QIB1.13
NII2.15
Retail2.95
Employee1.54
Total1.46

MSTC IPO Prospectus

MSTC IPO Rating

437
3.7
Rating:Rated 3.7 stars
Vote Here ...

MSTC IPO Listing Date

Listing Date Friday, March 29, 2019
BSE Script Code 542597
NSE Symbol MSTC
Listing In
ISIN INE255X01014
IPO Price ₹120 per equity share
Face Value ₹10 per equity share

Listing Day Trading Information

.
IPO Price
Open
Low
High
Last Trade
BSE
₹120.00
₹111.00
₹110.05
₹116.55
₹114.20
NSE
₹120.00
₹115.00
₹111.00
₹120.00
₹113.95

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

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

MSTC IPO Reviews / Ratings

MSTC IPO FAQs

MSTC IPO is a main-board IPO of 17,670,400 equity shares of the face value of ₹10 aggregating up to ₹212.04 Crores. The issue is priced at ₹120 to ₹128 per equity share. The minimum order quantity is 90 Shares.

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.

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

MSTC IPO lot size is 90 Shares and the minimum order quantity is 90 Shares.

You can apply in MSTC IPO online using either UPI or ASBA as payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO application is offered by brokers who don't offer banking services. Read more detail about apply IPO online through Zerodha, Upstox, 5Paisa, Edelweiss, ICICI Bank, HDFC Bank and SBI Bank.

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.

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

MSTC IPO Message Board

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118 Comments

79. Regulagedda Ambica Prasad |   Link |Mar 29, 2019 3:24:02 PM
Top Contributor Top Contributor (300+ Posts, 200+ Likes)
Nil allotment in IPO; but bought in market @ 114.5 per share ,the same as the discounted price for retail investors
78. anil m |   Link |Mar 29, 2019 12:37:20 PM
Fingers Crossed....
77. shambhu jain |   Link |Mar 29, 2019 10:57:56 AM
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
76. Prabahar P M |   Link |Mar 28, 2019 10:28:13 PM
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.
76.1. Prabahar P M |   Link |Mar 28, 2019 10:29:11 PM
Election gift for traders?
75. Hiteshji |   Link |Mar 28, 2019 8:53:54 PM
Top Contributor Top Contributor (400+ Posts, 300+ Likes)
Listing will be @ 110.
74. Manoj Singh Panwar |   Link |Mar 28, 2019 6:37:29 PM
What is the future of MSTC
74.1. Natvarsinh |   Link |Mar 28, 2019 6:46:19 PM
Top Contributor Top Contributor (200+ Posts)
Remember Mishrdhatu
73. Dhavalbhavsarahmedabad |   Link |Mar 22, 2019 9:35:06 PM
PRI open 142. Buyer circuit at 149. On 29 march listing day.
73.1. Anil Singhavi |   Link |Mar 28, 2019 4:31:59 PM
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
72. Anil Singhavi |   Link |Mar 28, 2019 4:29:53 PM
Current GMP : 0
means flat or negative listing expected
71. Priyansh Agrawal |   Link |Mar 28, 2019 3:42:13 PM
Debit 10305
70. kaushik patel |   Link |Mar 28, 2019 2:21:29 PM
Hello listing idea of MSTC ?
69. kaushik patel |   Link |Mar 28, 2019 2:19:49 PM
What is the grea premium of MSTC Listing?
68. dpcdsl |   Link |Mar 28, 2019 1:56:07 PM
Top Contributor Top Contributor (300+ Posts, 200+ Likes)
Bank account not yet debuted, lien exists but 90 shares credited in demat account.
67. SMMBD |   Link |Mar 28, 2019 1:08:19 PM
got 1 lot @114.50
66. Sbr |   Link |Mar 28, 2019 8:03:26 AM
Top Contributor Top Contributor (200+ Posts)
10/17
65. Gupta Amit |   Link |Mar 27, 2019 11:41:49 PM
MSTC 4/5
65.1. Natvarsinh |   Link |Mar 28, 2019 12:25:14 AM
Top Contributor Top Contributor (200+ Posts)
1/1 allotted
64. Mohit. |   Link |Mar 27, 2019 10:06:03 PM
1 lot allotted
63. Mohit. |   Link |Mar 27, 2019 9:58:13 PM
Link update now check alankit
62. Mohit. |   Link |Mar 27, 2019 5:17:33 PM
No allotment till now
61. Led |   Link |Mar 26, 2019 4:02:32 PM
mstc allotment date is 27th march
61.1. Regulagedda Ambica Prasad |   Link |Mar 27, 2019 11:23:06 AM
Top Contributor Top Contributor (300+ Posts, 200+ Likes)
Today after noon.
Status can be seen at http://ipo.alankit.com after 15:00 today
60. Manofsteel |   Link |Mar 25, 2019 2:37:29 AM
Top Contributor Top Contributor (200+ Posts, 200+ Likes)
If Market Remains Stable..
Some Listing Gain can be Expected