Day 2 Subscription (As Of 12 p.m.)
- Qualified institutional buyers: 0.35 times
- Non-institutional bidders: 0.05 times
- Retail investors: 1.23 times
- Employees: 0.48 times
- Overall: 0.92 times
Mahindra Logistics Ltd.'s Rs 829 crore initial public offering was subscribed 0.92 times on the second day of bidding today.
The portion reserved for qualified institutional buyers was subscribed 0.35 times the number of shares on offer, while the retail investors portion was subscribed 1.23 times, according to lead manager Axis Capital.
The non-institutional bidder's segment saw muted demand at subscribtion of 0.05 times, according to data on the exchanges. Shares reserved for employees was subscribed 0.48 times.
The public issue saw bids for 98.17 lakh shares, against a total issue size of 1.35 crore shares.
The third-party logistics solutions provider raised Rs 247.2 crore from anchor investors ahead of its initial public offering. The company allotted 57.62 lakh shares to 15 anchor investors at the upper end of the price band of Rs 429 apiece, it said in a media statement.
Promoter Mahindra & Mahindra Ltd. and private equity investors Normandy and Kedaara Capital would sell 1.93 crore shares at Rs 425-429 apiece to raise close to Rs 829 crore. The share sale by promoters will bring reduce their holding to 61 percent after the issue.
Also Read: Here's All You Need To Know About The Mahindra Logistics IPO
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