Business description from prospectus – Mahindra Logistics is one of India’s largest 3PL (third-party logistics) solutions providers in the Indian logistics industry which was estimated at INR6.40 trillion in Fiscal 2017, according to the CRISIL Report. The company follows “asset-light” business model which assets necessary for its operations such as vehicles and warehouses are owned or provided by a large network of business partners.
The technology enabled asset-light business model allows for scalability of services as well as the flexibility to develop and offer customized logistics solutions across a diverse set of industries.
The company operates in two distinct business segments:
Supply Chain Management (SCM) – This segment offers customized and end-to-end logistics solutions and services including transportation and distribution, warehousing, in-factory logistics and value added services to clients.
It operate the SCM business through a pan-India network comprising 24 city offices and over 350 client and operating locations as at May 31, 2017.
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It has a large network of over 1,000 business partners providing vehicles, warehouses and the other assets and services for the SCM business. Key clients in this business are Volkswagen India Private Limited, Vodafone India Limited, Thermax Limited, JSW Steel Limited, Ashok Leyland Limited, Siemens Limited, Bosch Limited, BMW India Private Limited, 3M India Limited, and Mercedes-Benz India Private Limited.
People Transport Solutions (PTS) – This segment provides technology-enabled 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.
It offers services through a fleet of vehicles provided by a large network of over 500 business partners.
As at May 31, 2017, the company operated PTS business in 12 cities and over 120 client operating locations across India. Key clients in India for the PTS business include Tech Mahindra Limited, AXISCADES Engineering Technologies Limited and ANZ Support Services India Private Limited.
Promoters of Mahindra Logistics – Mahindra & Mahindra Limited
|Mahindra Logistics IPO details|
|Subscription Dates||31 Oct – 2 Nov 2017|
|Price Band||INR425 – 429 per share|
|Offer For Sale||19,332,346 shares (INR821.62 – 829.36 crore)|
|Total IPO size||19,332,346 shares (INR821.62 – 829.36 crore)|
|Minimum bid (lot size)||34 shares|
|Face Value||INR10 per share|
|Listing On||NSE, BSE|
|Mahindra Logistics’ financial performance (in INR crore)|
|Profit after tax||24.4||36.6||38.5||36.0||46.1|
FY2013, FY2014 figures based on Indian GAAP, subsequent years based on Ind AS
Mahindra Logistics Limited
1A & 1B, 4th Floor, Techniplex 1
Techniplex Complex, Veer Savarkar Flyover
Goregaon (W), Mumbai – 400062
Phone: +91 22 2871 6800
Fax: +91 22 2490 0833
Link Intime India Private Limited
C-101, 1st Floor, 247 Park
Lal Bahadur Shastri Marg, Vikhroli (West)
Mumbai – 400 083
Phone: +91 22 4918 6200
Fax: +91 22 4918 6195
Email: [email protected]
Earnings Per Share (EPS): INR6.62
Price/Earnings (P/E) ratio: 64.20 – 64.80
Return on Net Worth (RONW): 13.11%
Net Asset Value (NAV): INR51.13 per share
Mahindra Logistics IPO Subscription Details
|Category||Shares offered||Subscription (no.
of times, at 5 PM)
|Day 1||Day 2||Day 3|
Mahindra Logistics IPO allotment status is now available on Link Intime’s website.
Click on this linkto get allotment status.
IPO Opening Date: 31 October 2017
IPO Closing Date: 2 November 2017
Finalisation of Basis of Allotment: 8 November 2017
Initiation of refunds: 9 November 2017
Transfer of shares to demat accounts: 9 November 2017
Listing Date: 10 November 2017
Listing Price on NSE: INR429 per share (no change from IPO price)
Closing Price on NSE: INR429.5 per share (up 0.1% from IPO price)