MSTC IPO sets price band at Rs121-128/sh; IPO opens on March 13

The equity shares of MSTC Limited are proposed to be listed on BSE and the NSE.

Mar 12, 2019 01:03 IST India Infoline News Service

MSTC Ltd (“Company”), will be launching its initial public offering (“IPO” or the “Offer”), which is scheduled to open on Wednesday, March 13, 2019 and close on Friday, March 15, 2019, with a price band of Rs121-128 per equity share of face value of Rs10 each of the company (the equity shares).

The IPO comprises of up to 1.76cr equity shares of the company through an Offer for Sale by the President of India, acting through the Ministry of Steel, Government of India (the “selling shareholder”). The offer includes a reservation of up to 70,400 equity shares for Eligible Employees for allocation and allotment on a proportionate basis (“Employee Reservation Portion”).

Equirus Capital Private Limited is the Book Running Lead Manager (BRLM) to the Offer.

The equity shares of MSTC Limited are proposed to be listed on BSE and the NSE.

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