Mahindra Logistics Limited, the
subsidiary of Mahindra & Mahindra (M&M), is all set to launch its Rs.
829 Cr Initial Public Offering (IPO) on Tuesday, 31 October, 2017, at the upper
end of the price band. The company has set a price band of Rs 425 - 429 per
share for its offer. The offer will remain open for 3 days for subscription from
31 Oct to 2nd Nov 2017.
The IPO will be based on 100 percent
share sale through the Offer-for-sale (OFS) route from its on-hand shareholders
of 1.93 cr with total equity shares of face value of Rs.10 each. The IPO of
Mahindra Logistics Ltd, however, does not hold fresh issue of equity shares.
Kotak Mahindra Capital Company and
Axis Capital are the book running lead managers to the issue. Mahindra
Logistics is a part of the Mahindra Partners Division of the Mahindra Group which
operates in two separate business viz. supply chain management (SCM) and
corporate people transport solutions (PTS).