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

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