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Last Updated : Mar 17, 2019 04:16 PM IST | Source: PTI

MSTC initial public offer extended till March 20

The initial public offer was subscribed 1.12 times on the third day of bidding Friday.

The initial share sale of state-owned MSTC has been extended till March 20 and the price band has been lowered, according to a regulatory filing.

The price band of the offer, which was to close Friday, has now been revised to Rs 120-128 from Rs 121-128 per share.

The initial public offer was subscribed 1.12 times on the third day of bidding Friday.

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According to the regulatory filing, the deadline for the offer has been extended till March 20.

The Rs 226-crore IPO received bids for 1,98,69,390 shares against the total issue size of 1,76,70,400 shares, the data available with the NSE till 1900 hours showed.

Till Thursday, the offer -- which opened on Wednesday -- was subscribed 12 per cent.

Equirus Capital Private Ltd is managing the initial public offer.

MSTC, a Kolkata-based firm, was incorporated in 1964 as a trading company to deal in the export of scrap. There are three main business verticals in the company -- e-commerce, trading and recycling.

MSTC scrip will be listed on the BSE and NSE.

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First Published on Mar 17, 2019 03:55 pm
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