MSTC Limited (“Company“), a Mini Ratna, under Ministry of Steel, company engaged in e-commerce and trading activities have filed the Draft Red Herring Prospectus dated January 30, 2019 (“DRHP“) with Securities and Exchange Board of India on January 31, 2019. The Company is one of the leading PSU entity engaged in providing e-commerce related services across diversified industry segment offering e-auction/e-sale, e-procurement services and development of customized software/solutions and also is a major player in trading of bulk raw material. The Company has emerged as a pioneer in the e-auction segment catering to the Government sector, partnering with different Government agencies and Ministries in conducting e-Auctions.
The Initial Public Offering by way of an offer for sale of 17,600,000 equity shares equivalent to 25% of the post-offer paid-up equity share capital of the Company by the President of India, acting through Ministry of Steel, Government of India.
Equirus Capital Private Limited is the sole Book Running Lead Manager to this offer and Alankit Assignments Limited is the registrar to this offer.
The equity shares of the Company are proposed to be listed on BSE and NSE.