Oct 31 , 2017 - Nov 02, 2017
Rs.425–Rs.429 per Equity Share
One of India’s largest 3PL solutions providers in the Indian logistics industry.
Operate in two distinct business segments, SCM and corporate PTS.
Offer customized and end-to-end logistics solutions and services including transportation and distribution, warehousing, in-factory logistics and value added services to their clients.
Company Operate SCM business through a pan-India network comprising 24 city offices and over 350 client and operating locations as at May 31, 2017.
|Issuer||Mahindra Logistics Limited (View Report)|
|Issue Type||100% Book Built Issue IPO|
|Issue Period||Issue Opens: Oct 31, 2017|
|Issue Closes: Nov 02, 2017|
|Price Brand||Rs.425–Rs.429 per Equity Share|
|Issue Size(Rs.)||Offer for sale of 19,332,346 Equity Shares (Rs. 821.10*Cr –Rs. 828.83^Cr)|
|Face Value||Rs.10 per Equity Share|
|Minimum Order Quantity Retail:||34 Shares and in multiples there of|
|QIB||50% of the issue size (96,03,673Equity Shares) (Rs.408.16* Cr –Rs.412.00^ Cr)|
|NIB||15% of the issue size(28,81,102Equity Shares) (Rs.122.45* Cr –Rs.123.60^ Cr)|
|Retail Individual Bidders||35% of the issue size (67,22,571Equity Shares)(Rs.285.71* Cr –Rs.288.40^ Cr)|
|Registrar||Link Intime India Private Limited|
|Listing||NSE & BSE|
|Book Running Lead Managers||Kotak Mahindra Capital Company Ltd. & Axis Capital Ltd.|
The Indian logistics industry is estimated at Rs.6.4 trillion in FY17. This is expected to grow at a CAGR of approximately 13.0% to Rs.9.2 trillion by 2020. Besides, government’s increased focus on infrastructure, simplified tax regime in the form of GST, supported by the company’s asset light business model likely to provide big push to the company as a whole. Mahindra Logistics, being part M&M group, enjoys great credibility at market place and is well positioned to capitalize on emerging opportunities in logistics industry.
Valuation & Rating:Considering sound financials and industry prospects, we ascribe 3.5 rating out of 5.
19,332,346 Equity Sharesthrough Offer for Sale (9,666,173 Equity Shares by Mahindra & Mahindra limited/ up to9,271,180 Equity Shares by NormandyHoldings Limited & up to394,993 Equity Shares by KedaaraCapital AlternativeInvestmentFund).