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Mahindra Logistics IPO subscribed 48% on the first day

The retail portion was subscribed 76%, while that of institutional investors subscribed 35%

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Last Updated : Nov 01 2017 | 4:36 AM IST

The Rs 800-crore initial public offering (IPO) of Mahindra Logistics garnered a subscription of 48 per cent on Tuesday, first day of the issue.

The retail portion was subscribed 76 per cent, while that of institutional investors subscribed 35 per cent. The high net worth individual segment was subscribed three per cent.

On Monday, Mahindra Logistics had allotted 57.6 million shares to anchor investors at Rs 429 apiece, amounting to Rs 247 crore. The price band for the maiden offer is fixed at Rs 425-429 per share.

Parent Mahindra & Mahindra is selling 19.3 million shares of Mahindra Logistics through the IPO.