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Government company MSTC is going to raise money from the primary market

IPO of Government Company MSTC

Government company MSTC is going to raise money from the primary market. The company is going to introduce an IPO of Rs 226 crore. This IPO will open on March 13 (Wednesday). It can be invested till March 15 (Friday).

 The company has fixed the price band for the share price of 121-128. Through this IPO, the central government is going to sell its 1.76 crore shares of this company, which will be equal to 25 percent of its paid-up equity capital.

 After this IPO, the government's stake in the company will be reduced to 64.85 per cent, which is 8 per cent now.

 The company is headquartered in Kolkata. It filed a petition to present an IPO on February 1. Market regulator SEBI had given the green signal to the company on February 28 to present an IPO. The company has entrusted the management of Equity Capital to the issue management. The company started in the year 1964. The company is mainly active in the export of scraps. It has mini ratna status. However, it has gained diversity by increasing its size. It offers a variety of products and services.

 The company has three main businesses. This includes e-commerce, trading and recycling. The company also provides e-auction service. The company is also active in bulk trading of customized solutions and raw materials as per requirement.

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  1. abhishek30 May 2020 at 04:03

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