Mahindra Logistics shares make tepid debut; end with mild gains

Shares of Mahindra Logistics made a tepid debut at the bourses, ending the day with marginal gains against the issue price of Rs 429.

Published: 10th November 2017 04:55 PM  |   Last Updated: 10th November 2017 06:18 PM   |  A+A-


NEW DELHI: Shares of Mahindra Logistics today made a tepid debut at the bourses, ending the day with marginal gains 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. During the day, the stock touched a high of Rs 433.95 and a low of Rs 416.55. It finally ended at Rs 429.15, up 0.03 per cent.

At NSE, shares of the company closed the day with a mild gain of 0.11 per cent at Rs 429.50.

In terms of equity volume, 14.99 lakh shares of the company were traded on BSE and over one crore shares changed hands at NSE during the day.

The company's market valuation stood at Rs 3,053.06 crore.

The 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.

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