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MSTC IPO subscribed 1.12 times on Day 3

Press Trust of India  |  New Delhi 

The initial public offer of state-owned trading company Limited was subscribed 1.12 times on the third day of bidding Friday.

The Rs 226-crore IPO received bids for 1,98,69,390 shares against the total issue size of 1,76,70,400 shares, the data available with the NSE till 1900 hrs showed.

Till Thursday, the IPO was subscribed 12 per cent.

Price range for the offer, which opened for subscription on Wednesday, has been fixed at Rs 121-128 per share.

is managing the initial public offer.

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.

scrip would be listed on BSE and NSE.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Fri, March 15 2019. 20:20 IST