IPO ANALYSIS : MSTC LIMITED -AVOID

Issue Details :

Issue opens / closes on	13-03 / 15-03- 2019
Issue size	1.76 Cr equity shares (25% of the Total paid up capital)
Face value	Rs 10
Price Band	Rs 121-128
Business	E commerce, Trading, Recycling
Promoters	Govt of India
Listing	Bse, Nse
BRLM	Equirus Capital
Registrar	Alankit Assignments

Remarks :

1. Highly competitive business.

2. Depends on govt agencies for business.

3. Currently facing a dispute with Standard Chartered Bank, wherein all freehold buildings of the Company are under attachment in terms of the order of DRT.

4. Non compliance of companies act provisions in the past.

5. Consistently loss making enterprise.

6. Irrationally priced.

Avoid the IPO.