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Mahindra Logistics Files For IPO With SEBI

Mahindra Logistics Files For IPO With SEBI:

As told all the investors that Mahindra Logistics Ltd (MLL) can file for IPO this year. Now as per latest update Mahindra Logistics Ltd a unit of automobile major Mahindra and Mahindra Ltd (M&M), has filed for an initial public offering (IPO) of shares.

The promoter, Mahindra and Mahindra Ltd, will be selling 9.7 million shares while Normandy Holdings Limited will sell 9.3 million shares as part of IPO, according to a filing with market regulator Securities and Exchange Board of India.

The offer will see a total stake dilution of 27.49%.

Mahindra Logistics provides services such as warehouse solutions and transport management.

In 2014, private equity firm Kedaara Capital bought a 23% stake in Mahindra Logistics for Rs200 crore.

Kotak Mahindra Capital Company Limited and Axis Capital Limited are the book-running managers to the IPO.

Logistics firms that have already filed their draft red herring prospectus with the regulator include Warburg Pincus-backed Continental Warehousing (Nhava Seva) Ltd and IDFC Alternatives-backed Seaways Shipping and Logistics Ltd.

Market Update:

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Au Financiers Ltd (AUFL) IPO also able to list successfully and gave its investors over 51% listing gains.

While Salasar Techno Engineering Ltd IPO (STEL IPO) lists at over 150% gain on first day itself.

Security and Intelligence Services Ltd IPO (SIS IPO) bidding is closed. Now Security and Intelligence Services IPO Allotment and Listing is in process.

While Cochin Shipyard Ltd IPO (CSL IPO) bidding also close. Now Cochin Shipyard IPO Allotment and Listing Dates will be in process.

Cochin Shipyard IPO Grey Market Premium (GMP) is trading at Rs 190 – Rs 192 per equity share. While Security and Intelligence Services IPO Grey Market Premium is trading at Rs 72 – Rs 74 per equity share.

Some SME IPO will also be active in market in coming week.

This year we can see some good IPO hitting market like NSE Ltd IPOHDFC Standard life insuranceSBI life insurance IPO etc.

Keep watching this blog to keep yourself updated with all the news.

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