Retail investors discount at MSTC IPO

Capacity Infra IPO

Mumbai- The initial public offering (IPO) of the government company MSTC will open on March 13 and close on March 15. The company has fixed the price range of 121 to 128 rupees and plans to raise Rs 220 crore through this issue.
In a press conference in Mumbai on Monday, MSTC Chairman and Managing Director BB Singh said that the company will issue a total of 17,670,400 equity shares under which 70,400 shares will be reserved for eligible employees. This can be applied for minimum 90 equity shares. Also for retail investors and qualified employees, this IPO will get a discount of Rs 5.50 per share.
Singh said that for this issue, BRLM Equivirus will be capitalized and the shares will be listed in the BSE and NSE. MSTC was established in 1964 and it originally serves to export scraps. However later it diversified and works in a lot of areas. They said that there are three main businesses in which the company is employed and it includes e-commerce, trading and recycling. The company has so far made 1,90,000 auctions and has 110,000 subscribers.