The initial public offer of state-owned trading company MSTC 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.
Equirus Capital Private Ltd 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.
MSTC scrip would be listed on BSE and NSE.
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