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MSTC Initial Public Offering subscribed 5% on Day 1, offer open till Friday

MSTC offers a discount of Rs 5.5 per share on the allotment price to retail investors

BS Reporter 

IPO
Illustration: Ajay Mohanty

The (IPO) of government-owned was subscribed 5 per cent on Day 1. So far, the issue has garnered bids for 810,180 shares against 17 million shares on offer.

The will remain open for subsc­rip­tion till Friday. The firm has set the price band at Rs 121-128 a share. offers a discount of Rs 5.5 per share on the allotment price to

At the upper end of the price band, the size would be Rs 226 crore. After the IPO, the government’s stake in the company will drop from 89.85 per cent to 64.75 per cent.

Equirus Capital is the investment bank for the operates in the metals and and has three — e-comme­rce, trading and recycling.


First Published: Thu, March 14 2019. 00:54 IST
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