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Mahindra Logistics Limited IPO (Mahindra Logistics IPO) Detail

Oct 31, 2017 - Nov 2, 2017

Incorporated in 2008, Mahindra Logistics Limited is end-to-end logistics solution and service provider. Mahindra Logistics is part of Mahindra Group (M&M), one of India's leading corporate groups with operations across several industries and countries. Before 2008 the logistics business of M&M was operated as a division of M&M serving the transportation and distribution, warehousing and in-factory logistics requirements of M&M.

The logistics solution of the company includes transportation and distribution, warehousing, in-factory logistics and value added services to its clients.

Company also provide people transportation solutions and services across India to over 100 domestic and multinational companies operating in the IT, ITeS, business process outsourcing, financial services, consulting and manufacturing industries in 12 cities and over 120 clients.

Company's subsidiary, 2X2 Logistics, provides logistics and transportation services to OEMs to carry finished automobiles from the manufacturing locations to stockyards or directly to the distributors through specially designed vehicles.

Company's other subsidiary, Lords, provides international freight forwarding services for exports and imports, customs brokerage operations, project cargo services and charters.

Company Promoters:

The Promoter of the Company is Mahindra & Mahindra Limited.

Company Financials:

Summary of financial Information (Consolidated)
Particulars For the year/period ended (in Rs. million)
31-Mar-17 31-Mar-16 31-Mar-15
Total Assets 8,167.17 5,914.67 5,188.47
Total Revenue 26,762.52 20,771.25 19,395.55
Profit After Tax 460.69 359.68 385.24

Objects of the Issue:

The objects of the Offer are:
1. To achieve the benefits of listing the Equity Shares on the Stock Exchanges and
2. For the Offer for Sale.

Company will not receive any proceeds from the Offer as all the proceeds will be received by the Selling Shareholders.

Issue Detail:

  »»  Issue Open: Oct 31, 2017 - Nov 2, 2017
  »»  Issue Type: Book Built Issue IPO
  »»  Issue Size: 19,332,346 Equity Shares of Rs 10 aggregating up to Rs 829.36 Cr
    ›  Offer for Sale of 19,332,346 Equity Shares of Rs 10 aggregating up to Rs [.] Cr
  »»  Face Value: Rs 10 Per Equity Share
  »»  Issue Price: Rs 425 - Rs 429 Per Equity Share
  »»  Market Lot: 34 Shares
  »»  Minimum Order Quantity: 34 Shares
  »»  Listing At: BSE, NSE

Allotment to Anchor Investors

Date: 30th Oct 2017

Mahindra Logistics Limited has allocated 57,62,203 equity shares at Rs 429 per equity share aggregating to Rs.247.2 crore to 15 anchor investors. 6 mutual funds have applied through a total of 10 schemes.

Mahindra Logistics IPO Reviews:

  1. Mahindra Logistics Limited IPO review by Dilip Davda

Mahindra Logistics IPO Recommendations:

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Issue Subscription Detail / Current Bidding Status

Number of Times Subscribed (BSE + NSE)
As on Date & TimeQIBNIIRIIEmployeeTotal
Shares Offered / Reserved3,841,4692,881,1026,722,572125,00013,570,143
Day 1 - Oct 31, 2017 17:00 IST0.35000.03000.76000.29000.4800
Day 2 - Nov 1, 2017 17:00 IST0.76000.10002.17000.92001.3200
Day 3 - Nov 2, 2017 22:00 IST15.60002.07006.10001.94007.9000

Mahindra Logistics IPO Prospectus

Mahindra Logistics IPO Rating

Rating:Rated 4.0 stars

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Mahindra Logistics IPO Listing Date

  •   ›  Listing Date: Friday, November 10, 2017
  •   ›  BSE Script Code: 540768
  •   ›  NSE Symbol: MAHLOG
  •   ›  Listing In:
  •   ›  ISIN: INE766P01016
  •   ›  Issue Price: Rs 429 Per Equity Share
  •   ›  Face Value: Rs 10 Per Equity Share

Listing Day Trading Information

Issue Price:
Last Trade:
Rs 429.00
Rs 432.00
Rs 416.55
Rs 433.95
Rs 429.15
Rs 429.00
Rs 429.00
Rs 416.10
Rs 433.85
Rs 429.50

Mahindra Logistics IPO News Alerts

  1. Friday, November 10, 2017 12:00:00 AM
    Mahindra Logistics IPO - Listing
  2. Wednesday, November 8, 2017 12:00:00 AM
    Mahindra Logistics IPO - Allotment
  3. Thursday, November 2, 2017 12:00:00 AM
    Mahindra Logistics Limited IPO - Close
  4. Tuesday, October 31, 2017 12:00:00 AM
    Mahindra Logistics Limited IPO - Open

Company Contact Information

Mahindra Logistics Limited
Mahindra Towers, P. K. Kurne Chowk,
Worli, Mumbai - 400018

Phone: +91 22 2490 1441
Fax: +91 22 2490 0833

Mahindra Logistics IPO Registrar

Link Intime India Private Ltd   »  Report
   Link Intime India Private Ltd,
   C-13 Pannalal Silk Mills Compound,
   LBS Marg, Bhandup West, Mumbai 400078

Phone: +91-22-25963838
Fax: +91-22-25946969

Mahindra Logistics IPO Lead Manager(s)

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Mahindra Logistics IPO Review / Comments

615. P M  Nov 17, 2017 5:35:52 PM IST I Like It. | Report Abuse Reply
IPO Mentor IPO Mentor (700+ Posts, 700+ Likes)
Again makes new all time low ------------- 405.00
614. P M  Nov 16, 2017 6:01:21 PM IST I Like It. | Report Abuse Reply
IPO Mentor IPO Mentor (700+ Posts, 700+ Likes)
Today makes new all time low -------- 412.30
613. Niceone  Nov 13, 2017 1:30:20 PM IST I Like It. | Report Abuse Reply
Something cooking in Mahindra SL 415 tg 470 as
613.1. Solution of Queries  Nov 15, 2017 3:45:02 PM IST I Like It. | Report Abuse
IPO Mentor IPO Mentor (900+ Posts, 1100+ Likes)
Nothing cooking sir ji.....its only trap ,,,better go for other good stocks if u want to invest now......
612. Cool Sunshine  Nov 14, 2017 10:21:28 PM IST I Like It. 1 | Report Abuse Reply
This stock will test everybody patience as it will rise very very gradually even most of the days/weeks rise will be so gradual that no one will notice it.

So if you are a long term investors be ready for grind otherwise act accordingly.

There is a little or no down side but on the up-side rise will take time...........

Another boring stock...isn''t it?
612.1. Solution of Queries  Nov 15, 2017 3:44:00 PM IST I Like It. 1 | Report Abuse
IPO Mentor IPO Mentor (900+ Posts, 1100+ Likes)
if capacit''s infra can become boring..thn why not it is..ha ha right @ cool.........
611. MDK  Nov 13, 2017 10:35:06 PM IST I Like It. | Report Abuse Reply
mahindra logistics will move upwards. as market closed in red for 5 days in a row, we saw poor listing in mahindra logistics. gst revision will benefit logistics sector, short term investor should hold mahindra logistics for target 475 with stop loss of 400. long term investors should hold mahindra logistics , it will reach 700 in next 18-24 months.

its subsidiary of m&m , it has debt free Balance sheet , asset light model
610. sree vas  Nov 10, 2017 9:14:51 PM IST I Like It. 1 | Report Abuse Reply
this is the first time i haven''t sold nor bought on listing day, 1 lot alloted
610.2. Cool Sunshine  Nov 11, 2017 7:42:39 PM IST I Like It. 1 | Report Abuse
Btw, I am happy that you were not in a hurry to act. One shud always have solid reasons to buy in this market and also solid reasons to sell. Impulse transactions shud be avoided.
610.3. sree vas  Nov 13, 2017 6:44:14 PM IST I Like It. | Report Abuse
Thank you cool,

609. Septa  Nov 10, 2017 11:50:28 AM IST I Like It. 20 | Report Abuse Reply
IPO Guru IPO Guru (3900+ Posts, 4300+ Likes)
Rs 300 stock offered at Rs 429 however I am surprised 😮 it is still near IPO price should tank but liquidity is not letting it tank.

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609.13. Septa  Nov 11, 2017 8:58:11 PM IST I Like It. 3 | Report Abuse
IPO Guru IPO Guru (3900+ Posts, 4300+ Likes)
''''''''not everything is buy in bear mkt and not everything is sell on bull mkt''''''''
great quote and I agree 110%!

Days I am happy with 25% return per annum I know if I get that in 10 years I will have 10 times what I have today


Thank you,


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609.14. Surjeet Gureja  Nov 13, 2017 10:35:38 AM IST I Like It. 1 | Report Abuse
Hi Septa,

Your 2 recommendations (South Indian bank and Tata Global Beverages) have given me good returns. Thank you for being my wealth creator.

Surjeet Gureja
608. SME ADVISOR  Nov 12, 2017 1:14:42 AM IST I Like It. 1 | Report Abuse Reply
mahindra brand always investor friendly.
go ahead buy this company

its high growth, almost nil debt, good management

what else u need in a stock. if valuation was a key not many people know that Jubiliant foodworks was told to be expensive since beginning kept going higher and have become a multibagger stock

607. Sultaann  Nov 11, 2017 2:40:39 PM IST I Like It. | Report Abuse Reply
M&M stand-alone net profit jumps 25% in Sep quarter, announces 1:1 bonus issue..

I hope Monday listing would be better.
606. Neeraj Sharma  Nov 10, 2017 7:57:39 PM IST I Like It. 2 | Report Abuse Reply
Sold 30 in 432/-
Keeping 4 for future hope.
Dum nahi dikha paya ye aaj.
605. Chem cho  Nov 10, 2017 6:06:52 PM IST I Like It. 3 | Report Abuse Reply
IPO Guru IPO Guru (1500+ Posts, 800+ Likes)
There was freak trade at opening down to rs 416 , touched high of rs 433 ,
over all the stock closed at rs 429 , seems in strong hands
some one was helping to keep the stock steady , punters did not earn much in this stock
604. harit  Nov 10, 2017 5:12:58 PM IST I Like It. 1 | Report Abuse Reply
After whole day trading
It never down below issue price with volume
So now all delivery in strong hands
603. MOHIT JAIN  Nov 10, 2017 5:09:39 PM IST I Like It. 2 | Report Abuse Reply
Aise ipo ko kahte hai naam baade and darshan chote..
602. Carn Mohan  Nov 10, 2017 5:04:32 PM IST I Like It. 1 | Report Abuse Reply
Top Contributor Top Contributor (400+ Posts)
Aj dhool chat li isnay
601. Septa  Nov 10, 2017 4:59:03 PM IST I Like It. 4 | Report Abuse Reply
IPO Guru IPO Guru (3900+ Posts, 4300+ Likes)
“Profanity is the effort of a feeble brain to express itself forcibly.”
pls do the needful and not sleep on the issue

602.2. William BC Nov 10, 2017 11:23:30 AM IST Thanks for reporting.
Kindly F**k o**

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600. King  Nov 10, 2017 3:49:18 PM IST I Like It. 1 | Report Abuse Reply
Some Greenery seen at end, Still Holding my 34 shares, I hope it will reach 450 in coming days.
599. Navkant  Nov 10, 2017 2:05:58 PM IST I Like It. 2 | Report Abuse Reply
Top Contributor Top Contributor (200+ Posts, 200+ Likes)
Sold 2 lots at 431. Am out of it.
598. Prats  Nov 10, 2017 11:58:07 AM IST I Like It. 2 | Report Abuse Reply
Good, Seems like Primary Market is much more mature now, I kind of liking the pricing of the IPOs now, Entrepreneurs and initial investors are getting their due share of the asset value they created over the years with good IPO pricing, Good not all promoters are idiots like DMART promoters(like it or not they are idiot investors :)), it''s always fair if you have worked hard for years then you should command fair value from market and don''t resort to cheap populist approach of underpricing IPO for some listing gains for new IPO Investors who run away on listing day.
This new model will also control the side IPO financing business started by mediators just to trap NIIs, all this foul business practices should end.
Like it or not Primary market has shifted from short term to long term value creation, if you are okay with that invest in IPOs, IPOs are no longer listing gain proposition.
Don’t blame promoters for your listing losses, they are right with their prices.
598.2. Prats  Nov 10, 2017 12:55:39 PM IST I Like It. 2 | Report Abuse
''Initial'' is just a literal you can''t say something initial if you are getting into it after 15-20 years (Of course, if you are not investing in Reliance Power :)), and if you compare the risk it''s nothing compared to what it would be when the company was formed.
But I agree with you on government part, nowadays they are horrible with their IPO pricing, there is difference between pricing your IPO right and horribly wrong. Earlier, Sometimes they used to call LIC and SBI to cover their IPO pricing mess but now they have made it a standard practice.
598.3. Koustav Mazumdar  Nov 10, 2017 1:41:11 PM IST I Like It. | Report Abuse
What risk are we talking about ??
It qualifies as risk when the company is correctly / valued but you trust that company will do well in future. then its a risk. Undervalue a company so that retail investors can make some money by investing at max 15K for some 5-6 days isnt called risk.
There is no ethical responsibility here. If you feel its overvalued - DO NOT APPLY. Let long term investors invest. Please dont take RISK and save us the horror.
597. Cool Sunshine  Nov 10, 2017 1:04:55 PM IST I Like It. 2 | Report Abuse Reply
"Initial" is in the sense that first investors when company became public. Risk for new investors is more as value perception of the company in eyes and mind of varied investor categories is yet to be own and hence their needs to be a reward for this risk taken.

As far as promoters reward for their risk is concerned....when company goes public their INR 1000 would have already become at least 10 lakh. So they are anyway handsomely rewarded. No denying that their risk is more.

597.1. Cool Sunshine  Nov 10, 2017 1:24:45 PM IST I Like It. 2 | Report Abuse
Also there has been company promoters (e.g. Pyramid Saimira, Tecpro Systems etc) who ran away with IPO investors money.

IPO investors do not have any such possibility so they expect something on the table when company goes public.

Let us stop is just another perspective. Isn''t it?
596. gamble  Oct 28, 2017 7:05:35 PM IST I Like It. 92 | Report Abuse Reply
IPO Guru IPO Guru (1500+ Posts, 3000+ Likes)
................. Mahindra Logistics.................
One of Largest 3PL(3rd party logistics) service provider in india.

Providing services in

SCM-supply chain management (90%)
..........Automotive, Engineering, Consumer goods, pharma, E-com industries etc
CLIENTS : Volkswagen, BMW, Mercedes-Benz etc

PTS-people Transport solutions (10%)
.........IT,Financial,ITes, consulting, Manufacturing industries etc
Kedaara capital bought 23%stack @122(in 2014) and selling 13.5% stack @429

SubsidiarieS :
2*2 logistics, Lords fright
Earlier were loss making but in last 3, 6 mnths made profit !!
Peers : no exact comparable but still nearly peers

............... . M.cap...... PE..... 5 yr CAGR....mcap/sales
TCI.......... 2130cr........30..........0%....1.10
All cargo...4100cr.......20.........6%.....0.75
Vrl........... 3200cr........43.........11%.... 1.8

Above taken only consideration of m.cap similarity

Other logistics player trading,
Aegis 64PE , Allcargo 18PE(good pick for med term! )

Avg logistics ind PE : 52.8

So, price band is not much high if see overall picture,

Mahindra other group share,
Mahindra CiE trading much higher PE ratio than its peer,so this one may also !!
Valuation :

Profit margin : 1.7%(big negative)

5 yr PAT caGr,income CaGr :18%, 15%
3 yr PAT cagR, income CagR: 17%,11%

2016-18 PAT,income CagR(expected) : 23%,25%

@429, 2017 PE 64,

2018 Q1 EPS 2.18, Estimated 7.5-9
Take 8 rs => 2018 PE : 53

Ind PE 53,but taking consideration of good growth,strong group, enrich mkt conditions, much more business opportunity to grow than former logistics company we may give xtra 5 PE to this one,

58*8 = 464(listing tgt)
60*8 = 480( till uttrayan)
Favorable statements:

Overall logistics ind to grow 13% caGr in nxt 3 yr, while 3PL ind to grow 21%cagr,

So good opportunity for mahindra logistics to use this growth and unlock it''s true value.

If MLL can increase PAT margin just near 3% in coming yrs(After GST seems possible) , then MLL has set price band 30PE of 2019(attractive)!!
Allotment :

Nearly 1.97L forms reqd for 1x
Due to Nippon, khadim,niA and virtually higher price band expecting only 6-7L or below forms,
Allotment ratio may : 1/3 (Fair possibility/ almost confirmed, linkintime 😊)


Subscribe for short mid long term ,possible listing gain 1-1.5 FD!

For listing gain confirmation you may wait till 3rd day 1.30pm(to check subsc fig) or till SPT says avoid!!!

M applying in any cases.

Note : GMP going down steadily with low volume , may only stabilise near 20-25!!

596.21. Cool Sunshine  Nov 10, 2017 12:27:16 PM IST I Like It. | Report Abuse
@593.20. Khemka

On a lighter note.......I would be very happy with 2 or even with 1 fd if it is guaranteed.
596.22. tnk  Nov 10, 2017 1:06:46 PM IST I Like It. 1 | Report Abuse
It''s not fd interest, its OD interest gone
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