The initial public offer of Mahindra Logistics was subscribed 1.32 times on the second day of offer today.
The IPO, which aims to raise Rs 829.35 crore, received bids for 1,79,66,042 shares against the total issue size of 1,35,70,143 shares, data available with the NSE showed.
The portion meant for qualified institutional buyers (QIBs) was subscribed 76 percent, non-institutional investors 10 percent and retail investors 2.17 times.
The IPO was subscribed 48 percent till yesterday.
Mahindra Logistics on Monday raised a little over Rs 247 crore from anchor investors.
The initial share sale of Mahindra Logistics will be open for public subscriptions till tomorrow.
The company has fixed a price band of Rs 425-429 per share. At the upper end of the price band, the public issue is expected to fetch Rs 829.35 crore.
Mahindra Logistics' IPO comprises sale of 1,93,32,346 shares, including offloading of 96,66,173 shares -- amounting to 13.74 percent stake -- by parent firm Mahindra and Mahindra.
Normandy Holdings and Kedaara Capital would sell 92,71,180 and 3,94,993 shares, respectively. Normandy Holdings is a 100 percent subsidiary of Kedaara Capital.
Kotak Mahindra Capital Company and Axis Capital are managing the company's IPO.
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