Mahindra Logistics Ltd, the logistics arm of automobile maker Mahindra and Mahindra Ltd (M&M), on Monday said it has raised Rs247.2 crore by selling shares to institutional investors as part of its anchor book allocation, a day before its initial public offering (IPO) opens.
Shares were allocated to 15 investors at Rs429 apiece, the upper end of the price band of Rs425-429 for the IPO. The Rs829.36 crore IPO will open on 31 October and close on 2 November. Institutional investors that participated in the anchor book allocation include Goldman Sachs India Ltd, Reliance Capital Trustee Co. Ltd, Aditya Birla Sun Life Trustee Pvt. Ltd, HDFC Trustee Co. Ltd and DSP Blackrock among others.
The share sale is a purely secondary offering, which will see parent M&M and private equity firm Kedaara Capital sell 19.33 million shares. The offer will see a total stake dilution of 27%. M&M, which holds 72.36% in Mahindra Logistics, will sell 9.66 million shares worth Rs414.67 crore; Normandy and Kedaara will sell shares worth Rs397.73 crore and Rs16.94 crore, respectively. Kedaara bought a 23% stake for Rs200 crore in 2014.
Mahindra Logistics has hired Kotak Mahindra Capital Co. Ltd and Axis Capital to manage the share sale.
I registered with axis bank for asba but details of my demat account show details of first holder only. Name of second holder or his pan no. is not shown. If I apply, will it be in joint names or will my application be rejected?
Valuations wise buy M&m if the ipo is successful and if you want to gamble on ML ...AND sell ML on listing ... dsij.in we are concerned about company''s inconsistent performance and thin margins it is running in. Company has not been paying dividend because of low profitability. Also, capital infusion in operations would have helped company however as it is OFS we see that company will not be receiving any money to strengthen its operations. Valuation is higher as compared to industry average ratio. We recommend investors to avoid this IPO.
. “At the upper end of the price band (`425-`429), the issue is priced at 66.2x and 50.8x of its reported and adj. FY2017 earnings aint cheap at all but is it worth it ? i doubt !!
173. P M| Link| Bookmark|
October 31, 2017 9:57:00 AM
(1100+ Posts, 1100+ Likes)
Anchor investors invested Rs. 247.20 crore @429 per share
First State Investment ICVC ---------------------------------------- 536112 ------------- 9.30% Goldman Sachs India Ltd -------------------------------------------- 536112 ------------- 9.30% HDFC Small Cap Fund ---------------------------------------------- 303008 -------------- 5.26% HDFC Trustee - HDFC Infrastructure Fund ------------------- 233104 --------------- 4.05% Reliance Capital Trustee - Reliance Small Cap Fund ------ 536112 -------------- 9.30% Aditya Birla Sun Life Midcap Fund ------------------------------- 536112 -------------- 9.30% UTI - Infrastructure Fund -------------------------------------------- 174794 -------------- 3.03% UTI - Transportation And Logistics Fund ----------------------- 174828 -------------- 3.03% DSP Blackrock Equity Fund ---------------------------------------- 116552 -------------- 2.02% DSP Blackrock Balanced Fund ------------------------------------ 233070 -------------- 4.04% Sundaram Mutual (Balanced) Fund ------------------------------- 174794 -------------- 3.03% Sundaram Mutual (Infrastructure Advantage) Fund ---------- 174794 -------------- 3.03% East Bridge Capital Master Fund ---------------------------------- 349622 -------------- 6.07% Amundi Funds SBI FM Equity India ------------------------------- 349622 ------------- 6.07% PICTET - Indian Equities -------------------------------------------- 233089 -------------- 4.05% PI Opportunities Fund I ---------------------------------------------- 349622 --------------- 6.07% Alberta Teachers Retirement Fund Board --------------------- 233104 --------------- 4.05% Birla Sunlife Insurance Co Ltd ------------------------------------- 233104 --------------- 4.05% Copthall Mautitius Investment Ltd -------------------------------- 284614 --------------- 4.94%
Total --------------------------------------------------------------------- 5762203 ---------------- 100%
dear sir, many thanks for your valuable information in adv. pl. keep it up. but what about the following ipos? IRCTC, IRCON, IRFC, RITES, NSE. looking for your early reply.
167. Eagleye| Link| Bookmark|
October 30, 2017 10:47:53 PM
IPO Guru (6600+ Posts, 22000+ Likes)
Mahindra Logistics has allotted 57.62 lakh equity shares at Rs 429 per share to 15 anchor investors, aggregating to Rs 247.2 crore, ahead of its initial public offering on Tuesday. Six mutual funds have applied for the issue through a total of 10 schemes. The anchor investors include Goldman Sachs India, HDFC Small Cap Fund, HDFC Trustee Company, Reliance Capital Trustee, Aditya Birla Sun Life Trustee and East Bridge Capital Master Fund. Also read: Mahindra Logistics IPO to open on October 31: 10 things you should know Mahindra Logistics, the subsidiary of Mahindra & Mahindra, is scheduled to open its initial public offering on Tuesday with a price band of Rs 425-429 per share, and close the issue on Thursday, November 2. The book running lead managers to the issue are Kotak Mahindra Capital Company and Axis Capital. Equity shares are proposed to be listed on BSE and NSE.