MSTC Ltd

MSTC,a Government of India Company is engaged in domestic and international trading activity for over 30 years. It is the canalising agency for import in India of Carbon Steel Metling Scrap and also Sponge Iron/Hot Briquetted Iron and Rerollable Scarp till February 1992. It is also the canalising agency for old ships for breaking. The Companys Foreign Trade Division largely undertook import and export of Carbon Steel Melting Scrap and now enlarging its import activity in Steel/Coal/Coke as also other nontraditional items like SKO,Nonferro and Ferroalloy items. It is also planning to import ferro alloys and import of input items of integrated steel plants and IF/EAF units. As part of diversification MSTC continued its efforts to venture into marketing of finished steel during 200001 from integrated steel plants. It also entered into MOU with KISCO for disposal of Pig Iron in domestic market. The company has started action for creating an eauction portal which would facilitate participation of both sellers and buyers through electronic mode. The portal is likely to be launched commercially in the fag end of 200102.MSTC Ltd., came out with an Initial Public Offering (IPO) of 17,670,400 equity shares of Face Value of Rs 10 each 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) for cash at a price of Rs 120/ per equity share aggregating to Rs 211.04 Crores. The IPO was priced at Rs 120/ per equity share.