Price band for Mahindra Logistics Limited's IPO fixed

Mahindra & Mahindra Ltd has announced regarding the Initial Public Offering ('Offer') of Mahindra Logistics Limited, a subsidiary of the Company ('MLL') and annoucned that the price band for the Offer has been fixed at Rs.425 to Rs.429 per equity share of Rs.10/- each of MLL, with an employee discount of Rs.42 that will be offered to Eligible Employees [as defined in the Red Herring Prospectus ('RHP')] on the terms and conditions as stipulated in the RHP.

Moreover, the minimum bid lot for the Offer has been fixed at 34 equity shares and can be applied in multiples of 34 equity shares thereafter.

Shares of MAHINDRA & MAHINDRA LTD. was last trading in BSE at Rs.1367.05 as compared to the previous close of Rs. 1374.45. The total number of shares traded during the day was 45874 in over 1806 trades.

The stock hit an intraday high of Rs. 1391.95 and intraday low of 1347.5. The net turnover during the day was Rs. 62746088.

Source : Equity Bulls

Keywords