State-run MSTC has finally submitted the draft papers with the Market regulator the Securities and Exchange Board of India to launch an initial public offering. This IPO consists of a sale of 17,600,000 shares of the company through the offer for sale route by the government as per the draft prospectus with SEBI.
Currently, the government has 89.885% stake in MSTC. After this IPO, the government will hold only 64.85%. This IPO has been reserved for the company employees but once it is listed on NSE and BSE; we can buy them. The lead manager for this IPO is Equirus Captial.
The company is engaged in offering e-commerce related services across various industry segments offering e-sale and/or e-auctions & development of custom solutions. As on 31st March, 20188, the profit of MSTC after tax for the fiscal year 2017-18 reported UBR 72.09 crore & its net worth was INR 560.28 Crore.