Mahindra & Mahindra seeks IPO of logistics arm

Logistics 230 - 150
By Jonathan Breen
04 Aug 2017

Indian multinational automobile conglomerate Mahindra & Mahindra is planning to sell a chunk of its logistics subsidiary in an IPO, according to a filing on Thursday.

Mahindra Logistics will be listed through an offer for sale of 19.3m secondary shares, or 27.5% of its share capital. The parent will provide 9.6m shares for the offer, while 9.3m will come from Normandy Holdings, and private equity firm Kedaara Capital will put up the remaining 394,993 ...

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