Govt plans to reduce stake in MSTC Limited
The Indian Government has said that it is planning to reduce it’s stake in MSTC Limited to 64 % from 89.85 % in the current cycle of disinvestment plan.
MSTC director, finance, A K Basu told the media, The government has decided to divest shares equal of 25 % of the total capital of the company (MSTC) through offer of sale.
The Centre will dilute about 0.88 crore shares from it’s holding of 3.13 crore shares post bonus issue at the rate of 1:1. The revised paid up capital of MSTC currently is Rs 35.2 crore, he added.
Chairman and managing director of MSTC B B Singh told the media, The company has a business volume of about Rs 60,000 crore in the current fiscal against Rs 51,000 odd crore last year.
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