MSTC plans to raise Rs 226 crore at the upper band through IPO

State-owned MSTC’s initial public offering (IPO) will remain open for subscription between March 13 and March 15. The company has set the price band for its IPO at Rs 121-128 per share. 

MSTC will offer a discount of Rs 5.5 per share on the allotment price to retail investors. At the upper end of the price band, the IPO size would be Rs 226 crore. 

The offering is entirely an offer for sale by the Government of India. The government has so far raised Rs 56,473 crore as part of its 2018-19 disinvestment programme. MSTC operates in the metals and mining sector and has three business verticals — e-commerce, trading and recycling.