Mahindra Logistics falls below issue price after quiet debut

At 10:05 am; the was trading at Rs 422, a 2% lower against its issue price of Rs 429 per share, after listed at par on the NSE

Mahindra Logistics (MLL) was trading at Rs 422 at 10:05 am,  below its issue price of Rs 429 per share, after making quite debut on the bourses.

On the National Stock Exchange (NSE), the stock listed at par of Rs 429, while on the BSE, it opened less than 1% higher at Rs 432. It touched low of Rs 420 on the NSE and of Rs 421 on the BSE. A combined 4.64 million shares changed hands on the NSE and BSE.

The initial public offering (IPO) of MLL was oversubscribed over 7.9 times with the reserved portion