The issue of MLL comprises sale of 1,93,32,346 shares

ipo 3

 

Mahindra Logistics Ltd (MLL), part of diversified Mahindra Group, has fixed a price band of Rs 425 to 429 per share for its initial public offer(IPO), according to a regulatory filing.

At the upper end of the price, the share sale would fetch little over Rs 829 crore.

“The price band for the offer has been fixed at Rs 425 to Rs 429 per share of Rs 10 each of MLL with an employee discount of Rs 42 that will be offered to eligible employees,” Mahindra & Mahindra said in a regulatory filing.

Last week, Mahindra Logistics had received go-ahead from markets regulator Sebi for the initial share sale.

The issue of MLL comprises sale of 1,93,32,346 shares, including offloading of 96,66,173 shares — amounting to 13.74 per cent stake — by the parent firm Mahindra and Mahindra.

Besides, Normandy Holdings would sell 92,71,180 shares, while Kedaara Capital would offload 3,94,993 scrips. Normandy Holdings is a 100 per cent subsidiary of Kedaara Capital.

Click to Know More → Mahindra Logistic IPO

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s