Mahindra Logistics shares make tepid debut

PTI
Published Nov 10, 2017, 1:44 pm IST
Updated Nov 10, 2017, 1:44 pm IST
Company's Rs 829-crore IPO was subscribed 7.90 times during October 31-November 2
The company's market valuation stood at Rs 3,058.39 crore. (Photo: Representational/PTI).
 The company's market valuation stood at Rs 3,058.39 crore. (Photo: Representational/PTI).

New Delhi: Shares of Mahindra Logistics on Friday made a quiet debut at the bourses, rising 0.7 per cent on BSE against the issue price of Rs 429.

The stock listed at Rs 432, up 0.69 per cent as compared to the issue price on BSE. It later touched a high of Rs 433.95 and a low of Rs 416.55.

At NSE, shares of the company debuted at Rs 429. The company's market valuation stood at Rs 3,058.39 crore.

The company's Rs 829-crore IPO was subscribed 7.90 times during October 31-November 2, according to data available with the NSE.

The portion meant for qualified institutional buyers (QIBs) was oversubscribed 15.60 times, non institutional investors 2.07 times and retail investors 6.10 times.

The company had fixed the price band at Rs 425-429 per share. Mahindra Logistics' IPO comprised sale of 1,93,32,346 shares.

Kotak Mahindra Capital Company and Axis Capital managed the company's IPO.

Location: India, Delhi, New Delhi




ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT