Mahindra Logistics may take IPO route

Mahindra Logistics, the logistics arm of Mahindra Group, may take IPO route in the next fiscal. There is another possibility of the unit being partly sold to another company which in all likelihood will be an overseas player. “There are certain milestones which will be achieved in 2017-18 and in the next fiscal, mahindra logisticswe will either come out with an IPO or do a strategic alliance which may involve partnership with an overseas player,” Mahindra Logistics’ chief executive Pirojshaw Sarkari recently told PTI.

While Sarkari did not disclose the amount which the company intends to generate either through IPO or part selling of its stake, he emphasized that there would be no tinkering with the brand identity. The company is expected to close FY 2016-17 with a topline of Rs 2600 crore. The company is also aiming at increasing the ratio of players outside the Mahindra group fold to 50 percent during the course of the current fiscal from the present level of 45 in terms of its topline contribution.

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