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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. ...

Teams from both companies will work together for a period of up to three years LATEST NEWS :       Homegrown utility vehicle major Mahindra & Mahindra (M&M) and American auto major Ford have decided to look at joint development of products, especially electric and connected vehicles. The partnership will also look at expanding Ford’s reach in the domestic market and Mahindra’s access to global markets. The announcement comes less than three months after Tata Motors (the only other homegrown player in domestic car market) decided to end partnership talks with Volkswagen group. “The changes facing the automotive industry globally are triggered by the accelerated rise of new technologies, sustainability policies and new models of urban shared mobility. Given these changes, we see the need to anticipate new market trends, explore alternatives and look for ways to collaborate even as we compete and build powerful synergies that will allow rapid...