Mahindra Logistics shares fall 2.1% on market debut

Mumbai, Maharashtra, IndiaUpdated: Nov 10, 2017, 07:22 AM IST

File photo. (Image source: Mahindra Logistics) Photograph:(Others)

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

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 per cent versus its issue price of 429 rupees.