Mahindra Group spins off car financing unit in $90 million IPO
Priced at top end after strong demand from all investor categories.
IndiaÆs Mahindra Mahindra Financial Services yesterday February 27 priced its domestic initial public offering at the maximum Rs200 per share after a strong response from all categories of bidders, enabling it to raise a total Rs4 billion $90 million.
The total offer, which comprised 20 million shares and was open from February 21 to 24, was 27 times covered. Foreign institutional investors ordered 27.3 times the 12 million shares that were available to foreign and domestic institutions combined. Close...
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