Mutual Funds Commodities Research Tax Planning IPO Our Team Contact Us    
Google
Web www.equitybulls.com
IPO News

| More

MSTC Limited's IPO to open on Wednesday, March 13, 2019

Posted On: 2019-03-12 09:03:11

MSTC Limited ("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 Rs. 121- Rs. 128 per Equity Share of face value of Rs. 10 each of the Company (the "Equity Shares").

The IPO comprises of up to 17,670,400 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").

This Offer is being made in terms of rule 19(2)(b) of the Securities Contracts (Regulation) Rules, 1957, as amended ("SCRR"), read with Regulation 31 of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018, as amended ("SEBI ICDR Regulations"). The Offer is being made through Book Building Process in terms of Regulation 6(2) of the SEBI ICDR Regulations, wherein not less than 75% of the Net Offer shall be available for allocation on a proportionate basis to Qualified Institutional Buyers ("QIBs") ("QIB Portion"). 5% of the QIB Portion shall be available for allocation on a proportionate basis to Mutual Funds only, and the remainder of the QIB Portion shall be available for allocation on a proportionate basis to all QIB Bidders, including Mutual Funds, subject to valid Bids being received at or above the Offer Price. However, if the aggregate demand from Mutual Funds is less than 5% of the QIB Portion, the balance Equity Shares available for allocation in the Mutual Fund Portion will be added to the remaining QIB Portion for proportionate allocation to QIBs.

Further, not more than 15% of the Net Offer shall be available for allocation on a proportionate basis to Non-Institutional Bidders and not more than 10% of the Net Offer shall be available for allocation to Retail Individual Bidders in accordance with the SEBI ICDR Regulations, subject to valid Bids being received at or above the Offer Price. Further, upto 70,400 additional Equity Shares has been reserved for allocation and Allotment on a proportionate basis to Eligible Employees bidding in the Employee Reservation Portion, subject to valid bids being received from them at or above the Offer Price. All Bidders, shall mandatorily participate in the Offer through an Application Supported by Blocked Amount ("ASBA") process by providing details of their respective bank account in which Bid Amount will be blocked and Retail Individual Bidder and Eligible Employees shall also have an option to apply through UPI Mechanism. For details, please refer to the section titled "Offer Procedure" beginning on page 286 of the Red Herring Prospectus.

The Company will not receive any proceeds from the Offer and all proceeds shall go to the Selling Shareholder i.e. President of India, acting through the Ministry of Steel, Government of India.

The Offer and the Net Offer will constitute 25.10% and 25.00% respectively, of the post Offer paid-up Equity Share capital of the Company.

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.


Source: Equity Bulls

Click here to send ur comments or to feedback@equitybulls.com





Other Headlines:

Tamil Nadu - based Annai Infra Developers Ltd. gets SEBI approval to float IPO

Maharashtra Finance Minister Unveils DRHP of Alphalogic Techsys Limited for Rolling Out its IPO

K.P.R. Agrochem IPO withdrawn: Angel Broking

Shyam Steel Industries Limited files DRHP for IPO

White Organic Retail Ltd IPO opens on BSE SME platform

TN-based Annai Infra Developers Limited files document for IPO float

Rail Vikas Nigam Limited's IPO to open on Friday, March 29, 2019

Humming Bird Education IPO fully subscribed

Humming Bird Education IPO Opens on March 15

Anmol India Ltd IPO fully subscribed on Day 3

KPI Global Infrastructure's Rs. 40 crore mops subscription of Rs. 436 Crore

Initial Public Offer: Garden Reach Shipbuilders & Engineers - Kotak

Initial Public Offer: Dinesh Engineers Ltd - Kotak

Subscription for Kritika Wires Ltd IPO open

Garden Reach Shipbuilders & Engineers Ltd IPO extended, price band revised

IPO of Spectrum Electrical Industries Limited Opens on September 17, 2018

Ahlada Engineers IPO opens for subscription on Sep 11, 2018

Rajshree Polypack Ltd NSE SME IPO to open for subscription on Sep 10, 2018

Marquee investor, Sunil Singhania's Abakkus Growth Fund - 1 invests in Rajshree Polypack Limited as Anchor Investor

Equity shares of CreditAccess Grameen Limited to list on Aug 23, 2018

TCNS Clothing Company Ltd to list on July 30, 2018

HDFC AMC IPO receives subscription of 83.04 times

HDFC Asset Management Co - IPO Note - Angel Broking

TCNS Clothing Company Limited - IPO Note - Angel Broking

Rajnish Wellness Ltd IPO to hit markets on June 25, 2018

Varroc Engineering Limited IPO to open for subscription on June 26, 2018

RITES Limited IPO receives overwhelming response from investors

Fine Organic Industries Limited IPO receives subscription of 8.99 times

Varroc Engineering Ltd - IPO Note - Angel Broking

RITES Ltd - IPO Note - Angel Broking

Fine Organic Industries Ltd - IPO Note - Angel Broking

Avana Logistek Ltd files DRHP with SEBI for IPO

IndoStar Capital Finance Ltd - IPO Note - Angel Broking

IndoStar Capital Finance Limited Offer opens on May 9, 2018

IPO Note - SoftTech Engineers Ltd - Arihant Capital Markets Ltd

Hindustan Aeronautics Ltd to list on March 28, 2018

Expectations high on listing of Bandhan Bank shares tomorrow

Mishra Dhatu Nigam Limited IPO receives subscription of 1.21 times

Lemon Tree Hotels Limited - IPO Note - Angel Broking

Mishra Dhatu Nigam Ltd - IPO Note - Sushil Finance

ICICI Securities Ltd - IPO Note - Sushil Finance

Lemon Tree Hotels Ltd - IPO Note - Sushil Finance

Mishra Dhatu Nigam Ltd - IPO Note - Angel Broking

Mishra Dhatu Nigam Ltd - IPO Note - Avoid - Hem Securities

ICICI Securities Ltd - IPO Note - SSJ Finance & Securities

Mishra Dhatu Nigam Ltd - IPO Note - Subscribe - SSJ Finance & Securities

IPO Note: MISHRA DHATU NIGAM LTD - NOT RATED - Kotak

IPO Note: ICICI Securities Ltd - SUBSCRIBE - Kotak

IPO: Mishra Dhatu Nigam Ltd - IIFL

Sandhar Technologies Limited - IPO Note - Angel Broking







Website Created & Maintained by : Chennai Scripts
West Mambalam, Chennai - 600 033,
Tamil Nadu, India

disclaimer copyright © 2005 - 2019