MSTC Ltd

MSTC Limited was incorporated as Metal Scrap Trade Corporation Limited, on September 9, 1964 at Kolkata. The Company was granted the Certificate of Commencement of Business on April 12, 1965 by the RoC. Subsequently, the name was changed to MSTC Limited and a fresh certificate of incorporation upon change of name was issued by the RoC on November 9, 1994.The Company undertakes trading activities, ecommerce and also disposal of ferrous and nonferrous scrap, surplus stores, minerals, agri and forest produces etc. mostly from Public Sector Undertakings, leading private sector entities and Govt. Departments. The core activity of the Company has been divided into two Operational Divisions, i.e. eCommerce and Trading. The eCommerce division undertakes disposal of Scrap, surplus stores, esales of minerals, agri and forest produces, and eprocurement. Apart from these, MSTC also provides eprocurement solution. The trading division handles import/export and domestic trade of mainly bulk industrial raw material. It looks after sourcing, purchase and sales of industrial raw materials like Heavy Melting Scrap, Low Ash Metallurgical Coke, HR Coil, Crude Oil, Naptha, Coking Coal, Steam Coal etc. for supply to Indian industries. The end customers are Coal/Steel Industries, Oil sector, State owned Power Companies etc.The Company was incorporated to deal in export of ferrous scrap. It became a subsidiary of SAIL on August 22, 1973 to act as a canalizing agent of the GoI for the import of metal scrap. Thereafter, on May 21, 1982 it became an independent GoI company upon acquisition of the shares of SAIL by the Selling Shareholder. Since its incorporation till the decanalisation of metal scrap by the GoI in 1992, the Company was mainly engaged in import of metal scrap as a canalising agency of the GoI. After the decanalisation, it decided to diversify the business and emerge as a multiproduct and a multifunctional organization.In 2001, the Company was Accorded with Mini Ratna Category II. The Company acquired the balance shares of Ferro Scrap Nigam Limited vide share sale agreement dated June 29, 2002 by virtue of which it became the wholly owned subsidiary in 2002.In 2004, the Company commenced eauctioning of coal, commenced eauction of Tea in 2010 commenced EAuction of human hair in 2011, commenced eauction of iron ore in Karnataka in 2012, commenced e auction of chrome ore and chrome concentrate for Odisha Mining Corporation in 2012, commenced eauction of iron ore in Goa and red sander in Andhra Pradesh in 2014, commenced eauction of coal mine blocks and subsidy disbursement for regasified liquified natural gas in 2015. The Company entered into a JV with MIL for setting up an Auto Shredding Plant at Greater Noida, Uttar Pradesh in 2016. In March 2019, the Company came up with an Initial Public Offering 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 by raising money from public aggregating to Rs 211.04 Crores. In 2023, the Company through Mahindra MSTC Recycling Pvt. Ltd (MMRPL) forayed into the recycling sector. The Companys auto recycling plant at Greater Noida completed its operations. The Second Plant in Chennai commenced operations from February 2020.