Mumbai, July 11 -- The company will notify the record date for the issue in due course.

The raised funds are intended to be utilized for the repayment or prepayment of existing borrowings, along with supporting general corporate purposes in line with the company's growth strategy. This move aims to fortify its position in India's rapidly growing logistics sector.

The Indian logistics landscape is experiencing robust growth, particularly in Tier 2 and Tier 3 cities, fueled by infrastructure development, e-commerce expansion, and the rising demand for scalable, technology-driven solutions.

Mahindra Logistics currently operates more than 20.8 million square feet of warehousing space, including 5 million square feet of energy-efficient, mu...