Mahindra and Mahindra’s Ltd board has approved IPO of his subsidiary company M&M logistics ltd.M&M Company sell 13.74% stake via Initial public offer.
The IPO will sale of 9.66 million shares, representing 13.74% stake, a company said
The promoters group of company include Normandy Holdings Ltd and Kedaara Capital Alternative Investment Fund(Kedaara Capital AIF I), which will sell 13.18% and 0.56% appropriately, according to the filing draft.
Mahindra Logistics Ltd provides services such as warehousing, transport, in-factory logistics, people logistics and freight forwarding for clients across industries such as auto and auto component manufacturing, consumer, pharmaceuticals and e-commerce.
Kedaara Capital bought a 23% stake in Mahindra Logistics at 200 INR crore In 2014.