State-run firm which provides auctions and procurement solutions, MSTC IPO sailed through on last day, on robust demand from retail investors. The issue received bids for a total of 1.76 crore out as against a total size of 1.76 crore shares, implying a subscription of about 1.11 times, data from exchanges showed. The retail investor portion registered robust demand a total of 29.80 lakh bids received as against their issue size of 17.60 lakh, implying a subscription of more than 1.63 times the portion reserved for them. QIBs bid for a total of 1.70 times the portion reserved for them, while NII portion was subscribed 1.70 times their potion . Employees bid for a total of 52,040 shares, as against 70,400 shares reserved for them, implying a subscription of more than 74% of their portion. Notably, MSTC had looked to to raise Rs 226 crore at the upper price band. The Kolkata-based company has fixed the price band for its public offer at Rs 121- Rs 128 per equity share. The issue had opened on 13th March and remained open till today. Also read:\u00a0Fed up of unwanted SMSs? Hassle may increase as second most spammed country enters elections According to the firm\u2019s prospectus, the minimum bid lot is fixed at 90 equity shares and and in multiples of 90 equity shares thereafter. A discount of Rs 5.50 per share on the offer price is being offered to retail individual bidders and eligible employee bidders. At present, the government holds a total 89.85% stake in MSTC. Following the divestment, it\u2019s stake is expected to reduce to 64.85%. \u201cThe company is bringing the issue at p\/b multiple of approx 2.63 at higher end of price band of Rs 128 Although company is one of the leading PSU entities engaged in providing e-commerce services but loss making financials are acting as a dampener,\u201d HEM Securities said in a report. The research firm has a long-term subscribe on the issue.