Mahindra Logistics IPO subscribed 1.32 times
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...