Bookbuilding IPO | ₹829 Cr | Listed at BSE, NSE | Tue, Oct 31, 2017 - Thu, Nov 2, 2017
Mahindra Logistics IPO is a book build issue of ₹828.88 crores. The issue is entirely an offer for sale of 1.93 crore shares of ₹828.88 crore.
Mahindra Logistics IPO bidding started from Oct 31, 2017 and ended on Nov 2, 2017. The allotment for Mahindra Logistics IPO was finalized on Nov 8, 2017. The shares got listed on BSE, NSE on Nov 10, 2017.
Mahindra Logistics IPO price band is set at ₹429 per share. The lot size for an application is 34. The minimum amount of investment required by an retail is ₹14,586 (34 shares) (based on upper price). The lot size investment for sNII is 14 lots (476 shares), amounting to ₹2,04,204, and for bNII, it is 69 lots (2,346 shares), amounting to ₹10,06,434.
The issue includes a reservation of up to 1,25,000 shares for employees offered at a discount of ₹42.00 to the issue price.
Axis Bank Ltd. is the book running lead manager and MUFG Intime India Pvt.Ltd. is the registrar of the issue.
Refer to Mahindra Logistics IPO RHP for detailed Information.
IPO Open
Tue, Oct 31, 2017
IPO Close
Thu, Nov 2, 2017
Issue Price
₹429 per share
Market Cap (Pre-IPO)
₹3,051.99 Cr
| IPO Date | 31 Oct to 2 Nov, 2017 |
| Listed on | Fri, Nov 10, 2017 |
| Face Value | ₹10 per share |
| Price Band | ₹425 to ₹429 |
| Issue Price | ₹429 per share |
| Lot Size | 34 Shares |
| Sale Type | OFS only |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Employee Discount | ₹42.00 |
| Total Issue Size | 1,93,32,346 shares (agg. up to ₹829 Cr) |
| Offer for Sale | 1,93,32,346 shares of ₹10 (agg. up to ₹829 Cr) |
| Share Holding Pre Issue | 7,11,41,924 shares |
| Share Holding Post Issue | 7,11,41,924 shares |
| BSE Script Code / NSE Symbol | 540768 / MAHLOG |
| ISIN | INE766P01016 |
Mahindra Logistics IPO comprises a total issue size of 1,93,32,346 shares. The net offer to the public is 1,92,07,346 shares, after excluding 1,25,000 shares under a preferential allotment. Of the Net offer 96,03,672 (50.00%) are allocated to QIB, 28,81,102 (15.00%) allocated to NII 67,22,572 (35.00%) allocated to RII.
| Investor Category | Shares Offered | % of Net Issue | % of Total Issue | Max Allottees |
|---|---|---|---|---|
| QIB Shares Offered | 96,03,672 | 50.00% | 49.68% | NA |
| − Anchor Investor Shares Offered | 57,62,203 | 29.81% | NA | |
| − QIB (Ex. Anchor) Shares Offered | 38,41,469 | 19.87% | NA | |
| NII (HNI) Shares Offered | 28,81,102 | 15.00% | 14.90% | NA |
| Retail Shares Offered | 67,22,572 | 35.00% | 34.77% | 1,97,722 |
| Preferential Reservations | ||||
| Employee Shares Offered | 1,25,000 | 0.65% | NA | |
| Total Shares Offered | 1,93,32,346 | 100.00% | 100.00% | |
Investors can bid for a minimum of 34 shares and in multiples thereof.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 34 | ₹14,586 |
| Retail (Max) | 13 | 442 | ₹1,89,618 |
| S-HNI (Min) | 14 | 476 | ₹2,04,204 |
| S-HNI (Max) | 68 | 2,312 | ₹9,91,848 |
| B-HNI (Min) | 69 | 2,346 | ₹10,06,434 |
Mahindra Logistics IPO raises ₹247.20 crore from anchor investors. Mahindra Logistics IPO Anchor bid date is October 30, 2017.
📝 Anchor Investors Letter (PDF)
| Bid Date | Mon, Oct 30, 2017 |
| Shares Offered | 57,62,203 |
| Anchor Portion (₹ Cr.) | 247.20 |
| Anchor lock-in period end date for 50% shares (30 Days) | Fri, Dec 8, 2017 |
| Anchor lock-in period end date for remaining shares (90 Days) | Tue, Feb 6, 2018 |
| Application Category | Maximum Bidding Limits | Bidding at Cut-off Price Allowed |
|---|---|---|
| Only RII | Up to Rs 2 Lakhs | Yes |
| Only sNII | Rs 2 Lakhs to Rs 10 Lakhs | No |
| Only bNII | Rs 10 Lakhs to NII Reservation Portion | No |
| Only employee | Yes | |
| Employee + RII/NII |
|
Yes for Employee and RII/NII |
Incorporated in 2008, Mahindra Logistics Limited is end-to-end logistics solution and service provider. Mahindra Logistics is part of Mahindra Group (M&M), one of India's leading corporate groups with operations across several industries and countries. Before 2008 the logistics business of M&M was operated as a division of M&M serving the transportation and distribution, warehousing and in-factory logistics requirements of M&M.
The logistics solution of the company includes transportation and distribution, warehousing, in-factory logistics and value added services to its clients.
Company also provide people transportation solutions and services across India to over 100 domestic and multinational companies operating in the IT, ITeS, business process outsourcing, financial services, consulting and manufacturing industries in 12 cities and over 120 clients.
Company's subsidiary, 2X2 Logistics, provides logistics and transportation services to OEMs to carry finished automobiles from the manufacturing locations to stockyards or directly to the distributors through specially designed vehicles.
Company's other subsidiary, Lords, provides international freight forwarding services for exports and imports, customs brokerage operations, project cargo services and charters.
| Period Ended |
|---|
| Amount in ₹ Crore |
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | To achieve the benefits of listing the Equity Shares on the Stock Exchanges and for the Offer for Sale |
The Mahindra Logistics IPO is subscribed 7.90 times on November 2, 2017 10:00:00 PM (Day 3). The public issue subscribed 6.10 times in the retail category, 15.60 times in the QIB category, and 2.07 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (x) | Shares Offered | Shares bid for |
|---|---|---|---|
| QIB (Ex Anchor) | 15.60 | 38,41,469 | 5,99,41,082 |
| NII | 2.07 | 28,81,102 | 59,66,592 |
| Retail | 6.10 | 67,22,572 | 4,10,22,360 |
| Employee | 1.94 | 1,25,000 | 2,42,624 |
| Total | 7.90 | 1,35,70,143 | 10,71,72,658 |
Date: 30th Oct 2017
Mahindra Logistics Limited has allocated 57,62,203 equity shares at Rs 429 per equity share aggregating to Rs.247.2 crore to 15 anchor investors. 6 mutual funds have applied through a total of 10 schemes.
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Fees payable to the BRLMs and brokerage and selling commission for members of the Syndicate, SCSBs, RTAs and CDPs | 18.37 |
| 2 | Processing fees to SCSBs for ASBA Applications procured by the Syndicate, sub-syndicate, Registered Brokers, RTAs or CDPs and submitted with the SCSBs; and Bidding Charges to members of the Syndicate, RTAs and CDPs | 2.03 |
| 3 | Selling commission for Registered Brokers | 0.01 |
| 4 | Fees payable to Registrar to the Offer | 0.65 |
| 5 | Printing and stationery expenses | 1.84 |
| 6 | Advertising and marketing expenses | 5.03 |
| 7 | Others: 1. Listing Fees, 2. SEBI, BSE and NSE processing fees, 3. Fees payable to legal counsels; and 4. Miscellaneous | 10.65 |
| Price Details | BSE | NSE |
|---|---|---|
| Final Issue Price | ₹429.00 | ₹429.00 |
| Open | ₹432.00 | ₹429.00 |
| Low | ₹416.55 | ₹416.10 |
| High | ₹433.95 | ₹433.85 |
| Last Trade | ₹429.15 | ₹429.50 |
Lead Manager Reports
Mahindra Logistics IPO is a main-board IPO of 1,93,32,346 equity shares of the face value of ₹10 aggregating up to ₹829 Crores. The issue is priced at ₹429 per share. The minimum order quantity is 34.
The IPO opens on Tue, Oct 31, 2017, and closes on Thu, Nov 2, 2017.
MUFG Intime India Pvt.Ltd. is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.
Zerodha customers can apply online in Mahindra Logistics IPO using UPI as a payment gateway. Zerodha customers can apply in Mahindra Logistics IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Mahindra Logistics IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Mahindra Logistics IPO opens on Tue, Oct 31, 2017 and closes on Thu, Nov 2, 2017.
Mahindra Logistics IPO lot size is 34, and the minimum amount required for application is ₹14,586.
You can apply in Mahindra Logistics IPO online using either UPI or ASBA as a payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO Application is offered by brokers who don't offer banking services. Read more detail about applying IPO online through Zerodha, Upstox, 5Paisa, Nuvama, HDFC Bank, and SBI Bank.
The finalization of Basis of Allotment for Mahindra Logistics IPO will be done on Wednesday, November 8, 2017, and the allotted shares will be credited to your demat account by Thu, Nov 9, 2017. Check the Mahindra Logistics IPO allotment status.
The Mahindra Logistics IPO listing date is on Fri, Nov 10, 2017.
