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At 10:05 am; the was trading at Rs 422, a 2% lower against its issue price of Rs 429 per share, after listed at par on the NSE LATEST NEWS  : Mahindra Logistics (MLL) was trading at Rs 422 at 10:05 am,  below its issue price of Rs 429 per share, after making quite debut on the bourses. On the National Stock Exchange (NSE), the stock listed at par of Rs 429, while on the BSE, it opened less than 1% higher at Rs 432. It touched low of Rs 420 on the NSE and of Rs 421 on the BSE. A combined 4.64 million shares changed hands on the NSE and BSE. The initial public offering (IPO) of MLL was oversubscribed over 7.9 times with the reserved portion for qualified institutional buyers (QIBs) was oversubscribed 15.60 times, non-institutional investors 2.04 times and retail investors 6.10 times, the exchange data shows. MLL, a subsidiary of Mahindra & Mahindra, raised Rs 829 crore through the issue, at higher end of price band of Rs 425-429 per share. Out of which...

Mahindra Logistics operates as third-party logistics services provider; price band for IPO fixed at Rs 425-429 per share LATEST NEWS : The Rs 830-crore initial public offering (IPO) of Mahindra Logistics , an arm of Mahindra & Mahindra (M&M), garnered a subscription of 1.32 times on Wednesday, a day before its close. The institutional portion of the IPO was subscribed 76 per cent, while that of non-institutional investor was subscribed 10 per cent. The small investor portion was subscribed 2.2 times. Mahindra Logistics operates as a third-party logistics services provider. The IPO is entirely an offer for sale, with parent M&M and private equity investor Kedaara Capital selling shares worth Rs 415 crore each. After the IPO, the promoter holding in the company will come down from 74.6 per cent to 61.1 per cent. Mahindra Logistics IPO The price band for the IPO was fixed at Rs 425-429 per share. “At the higher end, the issue is priced at a price-to-e...

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. ...