Mahindra Logistics ends flat on debut

The shares of Mahindra Logistics, subsidiary of automobile company Mahindra & Mahindra (M&M), ended flat during the stock market debut on Friday. The stock closed at Rs 429, the price at which it had issued shares to investors in its Rs 830-crore initial public offering (IPO) last week.

In intra-day trade, it hit a high of Rs 434 and a low of Rs 416 on the National Stock Exchange (NSE). Shares worth Rs 436 crore were traded on the NSE and another Rs 64 crore on the BSE. The IPO had 7.9 times subscription, with the institutional and retail (small investor)