In a candid address, Mahindra described the initiative as a ‘management experiment’ — a deliberate attempt to explore how large business groups could embrace and drive the entrepreneurial spirit
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During its subscription phase, the IPO received a total subscription of more than twelve times
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The company plans to use the net proceeds to build a new, modern facility and warehouse in India, invest in its subsidiary, and cover lease payments for its existing boutiques
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The IPO proceeds will be used for setting up new modern stores, sales and marketing incentives, investing in its subsidiary Digital Age, and more. Funds will also go towards paying leases for existing stores, setting up warehouses, and expanding to Saudi Arabia
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The IPO is expected to value the company between USD 3 billion and USD 3.5 billion
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This follows Sebi's directive to refile preliminary IPO papers due insufficient disclosure of key performance indicators
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