Mumbai: Mahindra Logistics Ltd, the logistics arm of the Mahindra and Mahindra Ltd (M&M), on Friday filed the draft red herring prospectus for its proposed initial public offering (IPO). Mahindra Logistics has appointed Kotak Mahindra Capital Co. Ltd and Axis Capital to manager the share sale. In 2014, private equity firm Kedaara Capital bought a 23% stake in Mahindra Logistics for Rs200 crore. Mahindra Logistics 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. Mahindra Logistics is one of the many logistics companies that have planned to go public.

Source: Mint August 04, 2017 14:50 UTC