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The issue comprises sale of 1,93,32,346 shares, including offloading of 96,66,173 shares -- amounting to 13.74% stake -- by the parent firm Mahindra and Mahindra Mahindra & Mahindra subsidiary Mahindra Logistics (MLL), which will open its initial public offering on October 31, with a price band of Rs 425-429 per share, will be the first logistics firm to hit the market after the rollout of GST.  The offer will close for subscription on November 2, 2017. The issue comprises sale of 1,93,32,346 shares, including offloading of 96,66,173 shares -- amounting to 13.74% stake -- by the parent firm Mahindra and Mahindra. Normandy Holdings would sell 92,71,180 shares, while Kedaara Capital would offload 3,94,993 scrips. Normandy Holdings is a 100% subsidiary of Kedaara Capital. The minimum bid lot for the offer is 34 equity shares and in multiples of 34 shares thereafter. The book running lead managers to the issue are Kotak Mahindra Capital Company and Axis Capital. ...

Here is a quick compilation of what the leading brokerages suggest LATEST NEWS     :     SBI Life Insurance Company Ltd is the India’s largest private life insurer in terms of new business premium (NBP) generated in each fiscal year since FY10. It has also increased its market share of NBP generated among private life insurers in India, from 15.9% in FY15 to 20% in FY17. Over FY15-17, the company’s NBP increased by 35.5% CAGR, which is the highest among the top five private life insurers (in terms of total premium in FY17) in India. The company's maiden issue opens for subscription today. At the IPO price band of Rs 685-700, the stock is available at P/IEV multiple of 4.2x FY17 (post issue) at the upper end of the price band. Post issue market capitalisation is at around Rs 70,000 crore. So, should you subscribe to the issue? Here's what leading brokerages and research houses suggest. We believe the Indian Life Insurance industry is in a p...