MSTC, state-owned e-commerce company, listed on the stock exchanges at a 10% discount over the IPO price. The IPO issue price was Rs. 120 and the stock was last seen trading at Rs. 115, down 4.17% in comparison to the listing price.
The e-commerce company's IPO was subscribed 1.12 times on the last day of bidding. The Rs 226-crore IPO received bids for 1,98,69,390 shares against the total issue size of 1,76,70,400 shares.
After some time, the stock hit the daily trading upper limit at Rs 116.5 apiece.
Post the IPO , the government of India holds a 65% stake in the company as against the previous