Mahindra Logistics To List On Bourses Tomorrow

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Mahindra Logistics, a subsidiary company of Mahindra & Mahindra which provides third-party logistics solutions opened its Rs. 829 crore IPO issue from October 31-November 2, 2017 is set to make its debut on November 10. The issue comprised an offer for sale of 96,66,173 shares which is a stake sale of 13.74% by M&M. Other shareholders in the company, Normandy Holdings and Kedaara Capital also offloaded their stake with share sale of 92,71,180 and 3,94,993 shares respectively.

Mahindra Logistics To List On Bourses Tomorrow

The issue price for the IPO was fixed at Rs. Rs. 425-429 per share that gathered overwhelming response with an oversubscription of more than 7.9 times. Of the total, the portion reserved for retail investors, non-institutional and QIBs was 6.1 times, 2.04 times and 15.6 times respectively.

From the anchor investors just before the IPO issue, the company raised Rs. 247 crores. The book running lead managers to the issue were Axis Capital and Kotak Mahindra Capital Company.

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Story first published: Thursday, November 9, 2017, 15:40 [IST]
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