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The Mahindra group and Kedaara Capital will divest 13.5% of their respective holding in Rs.830 crore Mahindra Logistics (MLL) initial public offering (IPO).
According to MLL chief financial officer Nikhil Nayak, “Both Mahindras and Kedaara are selling 13.5 per cent each to the public.”
As a part of the IPO, the company has announced a price band of Rs.425-429 per equity share. The IPO will open for subscription on October 30 and close on November 2.
The diversified conglomerate will still hold over 61% of the company after the share sale.
