Mahindra Logistics files IPO papers with Sebi

Mahindra Group’s logistics arm has filed draft papers with markets regulator Sebi to raise an estimated Rs 700 crore through an initial public offering.

The public issue of Mahindra Logistics comprises sale of 1,93,32,346 equity shares. This includes sale of 96,66,173 shares, amounting to 13.74 per cent stake, by the parent firm Mahindra and Mahindra Ltd, according to the…