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MSTC IPO subscribed 12 pc on second day of bidding

Press Trust of India  |  New Delhi 

The initial public offer of state-owned company was subscribed 12 per cent on the second day of bidding Thursday.

The 226-crore IPO received bids for 21,04,200 shares against the total issue size of 1,76,70,400 shares, as per data available with the NSE.

The IPO, which opened for subscription on Wednesday, would close Friday and has a price band of 121-128 per share.

is managing the IPO.

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.

The equity shares of are proposed to 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: Thu, March 14 2019. 19:40 IST