MSTC IPO subscribed 1.46 times on final day

New Delhi: State-owned MSTC's initial share sale, which was extended till March 20, has been subscribed 1.46 times on Wednesday, the final day of bidding.

According to data on the NSE website available till 1700 hrs on Wednesday, the IPO has received bids for 2,58,29,100 shares against the total issue size of 1,76,70,400 shares.

The offer was earlier scheduled to close on Friday.


In an update on the NSE on Friday, the book running lead managers (BRLM) to the MSTC issue had told the exchange that the issue closure date has been extended up to March 20. Also, price band was revised from Rs 121-128 to Rs 120-128 per share.

Equirus Capital Private Ltd is managing the offer and the MSTC scrip will be listed on the BSE and the National Stock Exchange.

MSTC, a Kolkata-based firm, was incorporated in 1964 as a trading company to deal in the export of scrap. There are three main business verticals in the company -- e-commerce, trading and recycling.