Kolkata based MSTC Limited is a public sector unit (PSU) involved in the trading of bulk raw material and e-commerce service provider to government and government-controlled entities.
| Bidding Dates |
|---|
| 13 Mar 2019 - 20 Mar 2019 |
| Subscription |
|---|
| 1.46x Oversubscribed |
| Minimum Investment | Minimum Lot | Maximum Lot | Lot Size | Number of Shares | Issue Price Band | Post Issue Promoter Holding % | Issue Size | IPO Document |
|---|---|---|---|---|---|---|---|---|
| ₹11,520 | 1 | 17 | 90 | 17.7 M | ₹120 - ₹128 | 74.9 % | ₹2120.4 M - ₹2261.8 M | RHP DOC |
MSTC IPO SUBSCRIPTION STATUS
20 Mar '19MSTC IPO overall subscription rate was 1.46 times the total available shares
MSTC IPO retail subscription rate was 2.95 times in the retail segment
MSTC IPO non-institutional investor subscription rate was 2.15 times in the non-institutional investor category
MSTC IPO Qualified Institutional Bidder subscription rate was 1.13 times the available shares for Qualified Institutional Bidder
MSTC IPO Employees subscription rate was 1.54 times in the Employees category
| Day | Retail Individual Investor | HNI (NII) Investors | Qualified Institutional Buyers | Employees |
|---|---|---|---|---|
| Category Reservation | 10% | 15% | 75% | - |
19 Mar 2019 (Day 5) | 2.85x | 1.69x | 0.85x | 1.5x |
20 Mar 2019 (Day 6) | 2.95x | 2.15x | 1.13x | 1.54x |
14 Mar 2019 (Day 2) | 1.05x | 0.08x | 0x | 0.51x |
15 Mar 2019 (Day 3) | 2.78x | 1.69x | 0.79x | 1.44x |
18 Mar 2019 (Day 4) | 2.8x | 1.69x | 0.85x | 1.47x |
13 Mar 2019 (Day 1) | 0.44x | 0.01x | 0x | 0.13x |
MSTC FINANCIALS
| Period | Net Profit (Rs in millions) | Revenue from operations (Rs in millions) | Cash Flow from operations (Rs in millions) | Free Cash flow (Rs in millions) | Margins |
| 6MFY19 | -158.8 | 14,769.1 | 5,234.9 | 5,082.1 | 5.4% |
| FY18 | -64.8 | 22,654.0 | 947.6 | 709.5 | 4.1% |
| FY17 | 1,391.5 | 17,392.2 | -5,193.8 | -5,342.9 | 14.0% |
| FY16 | -2,471.0 | 32,251.6 | 2,233.3 | 2,098.6 | -2.6% |
MSTC IPO SUBSCRIPTION STATUS DETAILS
MSTC had 17.7 M shares on offer
MSTC IPO offer price was in the range ₹120 - ₹128
MSTC IPO minimum Investment was ₹11520
MSTC IPO issue size was ₹ 2120.4 M - ₹ 2261.8 M
MSTC had a minimum lot size of 90 Shares per application
MSTC NUMBER OF SHARES ON OFFER
MSTC IPO IMPORTANT DATES
| Issue Open Date | 13 Mar 2019 |
| Issue close Date | 20 Mar 2019 |
| Allotment Date | 25 Mar 2019 |
| Refund Date | 26 Mar 2019 |
| Demat Account Credit Date | 28 Mar 2019 |
| Listing Date | 29 Mar 2019 |
| Listing on Exchange(s) | NSE and BSE |
| MSTC Allotment Status | Exchange |
MSTC IPO subscription opened on 13 Mar 2019, and closed on 20 Mar 2019
IPO allotment for MSTC was finalized on Monday, 25 Mar 2019
IPO listing for MSTC was on NSE and BSE on Friday, 29 Mar 2019
MSTC IPO LISTING GAINS
| Issue Price (adjusted) | 128.0 |
| Listing Open Price | 111.0 |
| Listing Close Price | 114.2 |
| Listing Gain% | -13.3% |
| Current Gain% | 361.9% |
MSTC Peer
| Stock | Stock Price | Market Cap (Rs crore) | PE TTM | PEG TTM | PS TTM | ROE% | ROA% | Annual Revenue (Rs crore) | Annual Revenue Growth % | Annual Net Profit (Rs crore) | Annual Net Profit Growth % | EPS TTM | EPS TTM Growth % |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| MSTC Ltd. | 591.2 | 4162.4 | 19.1 | -0.4 | 11.3 | 24.2 | 10.9 | 453 | 16.9 | 218.4 | -46.3 | 31 | -50.9 |
| Adani Enterprises Ltd. | 3020 | 408730.2 | 54.9 | 3.3 | 3.7 | 11.5 | 3.6 | 102943.2 | 2.6 | 9339.5 | 31.6 | 55 | 16.7 |
| Redington Ltd. | 354.8 | 27741.3 | 16.3 | 4 | 0.2 | 14.7 | 4.4 | 119347.4 | 19.9 | 1490.2 | -7.1 | 21.8 | 4.1 |
| Lloyds Enterprises Ltd. | 83.5 | 12611.6 | 44.5 | 0.1 | 7.2 | 6.8 | 3.9 | 2183.7 | 39 | 283.4 | 396.5 | 1.9 | 396.5 |
| Swan Corp Ltd. | 308 | 9656 | 35.2 | -0.6 | 2.2 | 3.6 | 2 | 5143.5 | -25.3 | 274.1 | -63.7 | 8.7 | -63.7 |
| MMTC Ltd. | 64 | 9597 | 24.8 | 0.1 | 2814.4 | 18.3 | 13.8 | 180.6 | -31.3 | 387.4 | 347.2 | 2.6 | 347.2 |
MSTC IPO Reports
MSTC INFORMATION ON IPO ISSUE
About MSTC
Kolkata based MSTC Limited is a public sector unit (PSU) involved in the trading of bulk raw material and e-commerce service provider to government and government-controlled entities.
Object of the Issue
- Carry out the disinvestment of Equity Shares by the Selling Shareholder in the company
- Achieve the benefits of listing the Equity Shares on the Stock Exchanges.
MSTC - PROMOTERS
| Name |
|---|
| President of India, acting through the MoS. |
MSTC Book Running Lead Manager
Equirus Capital Private Limited
mstcl.ipo@equirus.com
MSTC Registrar to the Offer
Alankit Assignments Limited
sarunraj@alankit.com
MSTC Strengths
Leading PSU entities
One of the leading PSU entities engaged in providing e-commerce services to customers in a most transparent, fair and secured manner
Virtual marketplace
Ability to create a virtual marketplace for any physical commercial activity thereby creating value for all the stakeholders
First mover advantage
First mover advantage on account of domain expertise in providing e-commerce services thereby helping to boost its business
MSTC Risks
Pricing pressure
The company faces significant pricing pressure from its competitors which could require it to reduce prices to remain competitive
Depend heavily on few customers
In the trading line of business, the company depend heavily on few customers, and the loss of its business, or a significant reduction in production, demand, or sales from these customers would adversely affect business.
IPO FAQs
This IPO consists of an offer for sale of up to Rs 212.0 crore, of 17,670,400 shares.
The promoter of the company is President of India, acting through the MoS..
The category allocation of qualified institutional buyers is 75.0%, the category allocation of non individual investors or high networth individuals is 15.0% and for retail investors it is 10.0%.
The price band of the IPO is Rs 120.0 - 128.0.
The IPO application opens on Mar 13, 2019 and closes on Mar 20, 2019.
The minimum lot size for the IPO is 90. The maximum lot size for the IPO is 1530.
For all category investors, the minimum application amount for this IPO is Rs. 11,520.0, the maximum value for this IPO is Rs 195,840.0.
This IPO will be allotted on Mar 25, 2019.
The refund will be credited to your account on Mar 26, 2019.
The allotted shares will be credited to your demat on Mar 28, 2019.
MSTC Ltd.’s shares listed on the stock exchanges on Mar 29, 2019.