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Mahindra Logistics shares fall 2.1 percent on market debut
November 10, 2017 / 4:43 AM / 15 days ago

Mahindra Logistics shares fall 2.1 percent on market debut

MUMBAI (Reuters) - Shares of Mahindra Logistics Ltd (MALO.NS) fell as much as 2.1 percent on its market debut on Friday after the company raised 8.3 billion rupees ($128 million) via an initial public offering last week.

Brokers trade at their computer terminals at a stock brokerage firm in Mumbai, India, February 17, 2016. REUTERS/Shailesh Andrade/Files

The issue was, however, subscribed nearly eight times on the last day of the sale.

By 0433 GMT, shares in the company were trading at 425.55 rupees on the National Stock Exchange, down 0.80 percent versus its issue price of 429 rupees.

($1 = 65.0650 Indian rupees)

Reporting by Swati Bhat; Editing by Sunil Nair

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