MSTC Limited (“Company”), a Mini Ratna, under Ministry of Steel, company engaged in e-commerce and trading activities have filed the Draft Red Herring Prospectus dated January 30, 2019 (“DRHP”) with Securities and Exchange Board of India on January 31, 2019. The Company is one of the leading PSU entity engaged in providing e-commerce related services across diversified industry segment offering e-auction/e-sale, e-procurement services and development of customized software/solutions and also is a major player in trading of bulk raw material. The Company has emerged as a pioneer in the e-auction segment catering to the Government sector, partnering with different Government agencies and Ministries in conducting e-Auctions.

The Initial Public Offering by way of an offer for sale of 17,600,000 equity shares equivalent to 25% of the post-offer paid-up equity share capital of the Company by the President of India, acting through Ministry of Steel, Government of India.

Equirus Capital Private Limited is the sole Book Running Lead Manager to this offer and Alankit Assignments Limited is the registrar to this offer.

The equity shares of the Company are proposed to be listed on BSE and NSE.

About MSTC Limited:

Incorporated in 1964 as a trading company to regulate the export of scrap, the Company has grown into a large diversified, multi-product services and Trading Company. The Company was a canalizing agent for import of ferrous scrap until 1992. After de-canalization, the Company has established itself as one of the major players in trading of bulk industrial raw material and one of the leading e-commerce service providers in the country.

The Company entered into the recycling business through a 50:50 joint venture with Mahindra Intertrade Limited (MIL) for setting up a shredding plant and collection centers across the country. In synopsis, it can be stated that there are three main business verticals in the Company which are namely, (i) E-commerce, (ii) Trading, and (iii) Recycling through the joint venture company (Mahindra MSTC Recycling Private Limited) with MIL.