Mahindra Logistics falls below issue price after quiet debut
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...