Mahindra Logistics is all set to launch its Rs. 829 crore IPO on Tuesday

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). 

Shares of Vedanta Limited rise on Rs 10,000 cr investment plan

Metal and Mining major Vedanta Ltd has reported total revenue at Rs.9378 crore keeping its profit at 34.00 crore for the quarter ended June 30, 2017. The stocks were trading higher on Monday after reports suggested that the company’s chief Anil Agarwal has lined up an investment plan of a Rs. 10,000 crore for Jharkhand. Effectively, Vedanta stock gained 1.37% to Rs 344.35 on BSE today. The stock opened at Rs 340.05 and touched an intraday high of Rs 344.70 and a low Rs 339.95, in the first hour of trade.  

For the quarter ended June 30, 2017, Vedanta  Limited reported total revenue at Rs. 9378.00 crore and net profit stood at 34.00 crore.

The Sensex and Nifty hold steady with their morning gains as stellar buying seen in different sectors, led by Industrials, Oil & Gas, Auto and Consumer Durables.

At 12:37 hrs, BSE Sensex is trading at 33,242.level up by 85 points, while NSE Nifty is trading at 10,364 level up by 41 points.

Khadim India Ltd IPO opens on 2 November

Khadim India Ltd, Kolkata based second largest footwear retailer in India, is lined up with its IPO, which will open on 2 November, 2017 setting a price band of Rs.745 -750 per share for the offer, which values it at Rs. 1,288-1,297 crore.

The IPO consists of a Fresh Issue of up to 50.00 crore equity shares consisting of up to 65 lakh equity shares through OFS route

Khadim India Ltd competes with brands such as Relaxo Footwears Ltd, Bata India Ltd, Liberty Shoes Ltd, Sree Leathers Pvt. Ltd and Mochi Shoes Ltd.  IDFC Bank Ltd and Axis Capital Ltd are managing the Khadim share sale.