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MSTC Limited IPO (MSTC IPO) Detail

March 13, 2019 - March 20, 2019

MSTC IPO is a book built issue of Rs 212.04 crores.

MSTC IPO bidding started from March 13, 2019 and ended on March 20, 2019. The allotment for MSTC IPO was finalized on Monday, March 25, 2019. The shares got listed on BSE, NSE on March 29, 2019.

MSTC IPO price band is set at ₹120 to ₹128 per share. The minimum lot size for an application is 90 Shares. The minimum amount of investment required by retail investors is ₹11,520.

The issue includes a reservation of up to 70,400 shares for employees offered at a discount of Rs 5.5 to the issue price.

Equirus Capital Private Limited is the book running lead manager of the MSTC IPO, while Alankit Assignments Ltd is the registrar for the issue.

Refer to MSTC IPO RHP for detailed information.

MSTC IPO Details

IPO Date March 13, 2019 to March 20, 2019
Listing Date March 29, 2019
Face Value ₹10 per share
Price Band ₹120 to ₹128 per share
Lot Size 90 Shares
Total Issue Size17,670,400 shares
(aggregating up to ₹212.04 Cr)
Retail Discount Rs 5.5 per share
Employee Discount Rs 5.5 per share
Issue Type Book Built Issue IPO
Listing At BSE, NSE

MSTC IPO Reservation

MSTC IPO offers 17,670,400 shares. 13,200,000 (74.70%) to QIB, 2,640,000 (14.94%) to NII, 1,760,000 (9.96%) to RII, 70,400 (0.40%) to employees. 19,555 RIIs will receive minimum 90 shares and (sNII) and (bNII) will receive minimum 1,620 shares. (in case of oversubscription)

Investor Category Shares OfferedMaximum Allottees
Anchor Investor Shares Offered-NA
QIB Shares Offered13,200,000 (74.70%)NA
NII (HNI) Shares Offered2,640,000 (14.94%)
Retail Shares Offered1,760,000 (9.96%)19,555
Employee Shares Offered70,400 (0.40%)NA
Total Shares Offered17,670,400 (100%)

MSTC IPO Timeline (Tentative Schedule)

MSTC IPO opens on March 13, 2019, and closes on March 20, 2019.

IPO Open Date Wednesday, March 13, 2019
IPO Close Date Wednesday, March 20, 2019
Basis of Allotment Monday, March 25, 2019
Initiation of Refunds Tuesday, March 26, 2019
Credit of Shares to Demat Thursday, March 28, 2019
Listing Date Friday, March 29, 2019
Cut-off time for UPI mandate confirmation 5 PM on March 20, 2019


Investors can bid for a minimum of 90 shares and in multiples thereof. The below table depicts the minimum and maximum investment by retail investors and HNI in terms of shares and amount.

Application Lots Shares Amount
Retail (Min) 1 90 ₹11,520
Retail (Max) 17 1530 ₹195,840
Lot Size Calculator

MSTC IPO Promoter Holding

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.

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

About MSTC Limited

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 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 (MSTC IPO Objectives)

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 Review (May apply)

[Dilip Davda]  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 March 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)

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 Prospectus


Rating:Rated 3.7 stars
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MSTC IPO Listing Details

Listing Date March 29, 2019
BSE Script Code 542597
ISIN INE255X01014
Final Issue Price ₹120 per share

Pre-Open Session - NSE Pre-Open Session - BSE

Listing Day Trading Information

Price Details
Final Issue Price
Last Trade

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MSTC Limited Contact Details

MSTC Limited
A. J. C. Bose Road
Kolkata - 700 020
Phone: +91-033-2281-3088

MSTC IPO Registrar

Alankit Assignments Ltd

Phone: (011) 4254 1234

MSTC IPO - Buy or Not

MSTC IPO Recommendation Summary

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Members 0 0 0

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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 share. The minimum order quantity is 90 Shares.

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

MSTC IPO lot size is 90 Shares, and the minimum amount required is ₹11,520.

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, Nuvama, ICICI Bank, HDFC Bank and SBI Bank.

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

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

Ranked Members of Forum  Ranked Members | Members with Most Likes



79. Regulagedda Ambica Prasad |   Link |  Bookmark |March 29, 2019 2:24:02 PM
Top Contributor Top Contributor (400+ 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 |  Bookmark |March 29, 2019 11:37:20 AM
Fingers Crossed....
77. shambhu jain |   Link |  Bookmark |March 29, 2019 9:57:56 AM
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 |  Bookmark |March 28, 2019 9:28:13 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 |  Bookmark |March 28, 2019 9:29:11 PM
Election gift for traders?
75. Hiteshji |   Link |  Bookmark |March 28, 2019 7:53:54 PM
IPO Mentor IPO Mentor (600+ Posts, 400+ Likes)
Listing will be @ 110.
74. Manoj Singh Panwar |   Link |  Bookmark |March 28, 2019 5:37:29 PM
What is the future of MSTC
74.1. Natvarsinh |   Link |  Bookmark |March 28, 2019 5:46:19 PM (200+ Posts)
Remember Mishrdhatu
73. Dhavalbhavsarahmedabad |   Link |  Bookmark |March 22, 2019 8:35:06 PM
PRI open 142. Buyer circuit at 149. On 29 march listing day.
73.1. Anil Singhavi |   Link |  Bookmark |March 28, 2019 3:31:59 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 |  Bookmark |March 28, 2019 3:29:53 PM
Current GMP : 0
means flat or negative listing expected
71. Priyansh Agrawal |   Link |  Bookmark |March 28, 2019 2:42:13 PM
Debit 10305
70. kaushik patel |   Link |  Bookmark |March 28, 2019 1:21:29 PM
Hello listing idea of MSTC ?
69. kaushik patel |   Link |  Bookmark |March 28, 2019 1:19:49 PM
What is the grea premium of MSTC Listing?
68. dpcdsl |   Link |  Bookmark |March 28, 2019 12:56:07 PM
Top Contributor Top Contributor (400+ Posts, 200+ Likes)
Bank account not yet debuted, lien exists but 90 shares credited in demat account.
67. SMMBD |   Link |  Bookmark |March 28, 2019 12:08:19 PM
got 1 lot @114.50
66. Sbr |   Link |  Bookmark |March 28, 2019 7:03:26 AM (200+ Posts)
65. Gupta Amit |   Link |  Bookmark |March 27, 2019 10:41:49 PM
MSTC 4/5
65.1. Natvarsinh |   Link |  Bookmark |March 27, 2019 11:25:14 PM (200+ Posts)
1/1 allotted
64. Mohit. |   Link |  Bookmark |March 27, 2019 9:06:03 PM
1 lot allotted
63. Mohit. |   Link |  Bookmark |March 27, 2019 8:58:13 PM
Link update now check alankit
62. Mohit. |   Link |  Bookmark |March 27, 2019 4:17:33 PM
No allotment till now
61. Led |   Link |  Bookmark |March 26, 2019 3:02:32 PM
mstc allotment date is 27th march
61.1. Regulagedda Ambica Prasad |   Link |  Bookmark |March 27, 2019 10:23:06 AM
Top Contributor Top Contributor (400+ Posts, 200+ Likes)
Today after noon.
Status can be seen at after 15:00 today
60. Manofsteel |   Link |  Bookmark |March 25, 2019 1:37:29 AM
Top Contributor Top Contributor (200+ Posts, 200+ Likes)
If Market Remains Stable..
Some Listing Gain can be Expected