Mahindra Logistics makes tepid debut; falls below issue price
10/11/2017 14:44
Mahindra Logistics, the subsidiary of Mahindra & Mahindra, made a quite debut on the Bombay Stock Exchange by listing at Rs 432 against its initial public offer (IPO) price of Rs 429 per share.

The logistics solutions provider, which had got overwhelming response for its Rs 829.35 crore initial public offering that was subscribed over 7.9 times earlier this month, was listed at its issue price of Rs 429 per share on the National Stock Exchange.

After making a tepid debut, shares of company moved in a tight range and touched an intra-day highs and lows of Rs 433.95 and Rs 416.55 on the BSE. In the day’s trade so far, as much as 13.53 lakh shares have changed hands over the counter on BSE.

“The equity shares of Mahindra Logistics Ltd (Scrip Code: 540768) are listed and admitted to dealings on the Exchange in the list of 'B' Group Securities,” said the company in a filing to the Bombay Stock Exchange.

The company has fixed a price band of Rs 425-429 for its initial share sale offering.

Meanwhile, the broader benchmark BSE Sensex was trading at 33,163.69, down 87.24 points, or 0.26 per cent, at 14:45 hours.