MSTC Ltd. announces launch of initial public offering
11/03/2019 11:00
MSTC Ltd. has announced public offering of 13200000 shares at a price of Rs 10.00 each for Cash at a Premium of Rs 118.00 per share. The gross proceeds of the issue are expected to be Rs 16,896.00 lakhs.

The company's initial public offer (IPO) will open on 13 March 2019 and is expected to close on 15 March 2019, subject to customary closing conditions. The price band of the issue has been fixed at Rs 121.00-128.00 per share.

The IPO includes a fresh Issue of 13200000 Equity Shares of the Company at an price of Rs 128.00 per Equity Share. The company has fixed the minimum bid lot for the issue at 90 shares with bids in multiples of 90.

MSTC Ltd. anticipates using the proceeds of the issue for i) to carry out the disinvestment of ,, Equity Shares by the Selling Shareholder in the Company constituting % of the Company’s preOffer paid up Equity Share capital; and, ii) to achieve the benefits of listing the Equity Shares on the Stock Exchanges.

as lead manager & is the registrar, to the issue.