MSTC files IPO papers with Sebi

State-run e-commerce company MSTC Ltd on Monday said it has filed the Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (Sebi) for its proposed initial public offer (IPO).

The mini-Ratna company, under the Ministry of Steel, said the IPO was by way of an offer for sale of 17,600,000 equity shares equivalent to 25 per cent of the post-offer paid-up equity share capital of the company.

The city-headquartered company has emerged as a pioneer in the e-auction segment catering to the government sector, partnering with different government agencies and ministries in conducting e-auctions.

Equirus Capital Private Limited is the sole book running lead manager to this offer and Alankit Assignments Limited is the registrar to this offer.

The equity shares of the company are proposed to be listed on the BSE and NSE.

--IANS

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