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Mahindra Logistics Limited April 10, 2015 (12:00)
Issue Period
Oct 31 , 2017 - Nov 02, 2017
Price Band
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.
Mahindra Logistics Limited
| 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. | |
Karvy View
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.
Objects of the IPO:
- To achieve the benefits of listing the Equity Shares on the Stock Exchanges and for the Offer for Sale of Equity Shares.
- General Corporate Purpose
Key Strategies:
- Continue to grow share of our business from non- Mahindra Group clients.
- Focus on large revenue clients by providing integrated end-to-end solutions and continue to provide additional.
- Continue to diversify our revenues from industry verticals such asconsumer, pharmaceuticals, e- commerce and bulk.
- Continue to focus on enhancements in technology.
- Leveraging on the changing logistics industry dynamics, particularly with implementation of the GST regime.
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).
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