Mahindra Logistics files for an IPO
DSIJ Intelligence / 07 Aug 2017
Mahindra Logistics, a unit of automobile major Mahindra and Mahindra (M&M), has filed for an initial public offering (IPO) of shares. The company is expected to raise an estimated Rs 700 crore through the IPO.
Mahindra Logistics, a unit of automobile major Mahindra and Mahindra (M&M), has filed for an initial public offering (IPO) of shares. The company is expected to raise an estimated Rs 700 crore through the IPO.
The promoter, Mahindra and Mahindra, will be selling 9.7 million shares while Normandy Holdings will sell 9.3 million shares as part of the IPO, according to a filing with market regulator Securities and Exchange Board of India (SEBI). Kotak Mahindra Capital Company and Axis Capital are the book-running managers to the IPO.
India’s IPO market has been on a roll with money raised through IPOs surging 116% to USD 2.6 billion in H1CY17.
Mahindra Logistics provides services such as warehouse solutions and transport management.
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