PSU e-commerce company MSTC to raise up to Rs2.25bn via IPO

MSTC Ltd.

Incorporated in 1965 as “Metal Scrap Trade Corporation Limited”. Subsequently, the name of our Company was changed to “MSTC Limited” in 1994.  Company was incorporated to deal in export of ferrous scrap. Company diversified into e-Commerce in 2002.

Trading: The Trading division is engaged in import as well as domestic sourcing of bulk industrial raw material for actual users as well as traders. This division looks after sourcing, purchase and sale of industrial raw materials like low ash metallurgical coke, HR coil, naptha, crude oil, coking coal, steam coal, line pipes etc. on behalf of our customers. We are mainly catering to customers across steel, oil and gas, power sectors in private and public sector. 

E-Commerce: E-Commerce division offers e-auction/e-sale, e-procurement services and development of customized software/solutions.  Company conducts e-auction of Coal, sale of scraps, old plant & machineries, minerals, agricultural produce, coal and non-coal mine blocks, land parcels, tea, gorgon nut, tendu leaves, timbers and other forest produce, etc. 

Recycling:  Entered into the recycling business through a 50:50 joint venture with Mahindra Intertrade Limited (MIL) named Mahindra MSTC Recycling Private Limited (MMRPL) for setting up a shredding plant and collection centres across the country. It poised to setup auto shredding plant in India for recycling ELVs and other white goods by converting these into shredded scrap which is a vital raw material for steel plants.  Collection and dismantling centre has been set up in Greater Noida (UP) as a supply feedstock for the auto shredding plant.

E-commerce biz done 1,90,000 auctions, serving over 1,10,000 users as at December 31, 2018. Conducted 28,600 auctions/events during Fiscal 2018 and 30,500 auctions/event for nine months period ended December 31, 2018.

Website: Click here

Management:

Name	Designation
B.B. Singh	Chairman & MD
Subrata Sarkar	Director Finance & CFO
Ms. Bhanu Kumar	Director Commercial
Ajay Kumar Rai	CS & Compliance officer

IPO Snapshot: 

Particulars	Details
Dates	13-Mar-2019 to 15-Mar-2019
Face Value	Rs10/share
Price Band	Rs121 - Rs128/share
Discount	Rs5.5/Share to retail & employees
Bid lot	90 shares and multiples
Listing	NSE & BSE
Mode of Payment	ASBA (Mandatory)

Issue Details: 

Issue Size	Rs225.17mn
QIB	50%
NIB	15%
Retail	35%

Lead Managers	: Equirus Capital Pvt. Ltd.

Registrar: Alankit Assignments Ltd.

Allotment Status: Check Allotment status

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