Mahindra Logistics files for an IPO
Mahindra Logistics, a unit of automobile major Mahindra and Mahindra (M&M), has filed for an initial public offering (IPO) of shares. The company is expected to raise an estimated Rs 700 crore through the IPO.
According to a filing with market regulator Securities and Exchange Board of India (SEBI), the promoter, Mahindra and Mahindra will be selling 9.7 million shares while Normandy Holdings will sell 9.3 million shares as part of IPO.
Kotak Mahindra Capital Company and Axis Capital are the book-running managers to the IPO.
Mahindra Logistics provides services such as warehouse solutions and transport management.