praveen
09-01-2008, 09:15 AM
Mahindra Holidays & Resorts India last month filed papers with Securities and Exchange Board of India for an initial public offering of 1,07,19,347 equity shares of Rs 10 each for cash at a price to be decided through 100 per cent book-building process. The issue would constitute 13 per cent of the paid-up capital of the company.
Mahindra Holidays & Resorts India is a leisure hospitality provider offering quality family holidays and has pan-India coverage of 21 resorts and 14 branch offices, 43 direct and 80 franchisee retail sales outlets as of October 31, 2007. It is a subsidiary of Mahindra & Mahindra.
The global coordinator and book running lead manager to the issue is Kotak Mahindra Capital Company and the book running lead manager is HSBC Securities and Capital Markets (India).
"We are overwhelmed with the response to the intended pre-IPO placement and are pleased to have State Bank of India as an investor. This is a testimony to our focus on the hospitality sector and confidence of consumers and investors in the Club Mahindra brand as a leading player in that space," said Arun Nanda, chairman of Mahindra Holidays and Resorts.
Tuesday, Mahindra & Mahindra shares closed up 2.41 per cent at Rs 830.10 on BSE.
Mahindra Holidays & Resorts India is a leisure hospitality provider offering quality family holidays and has pan-India coverage of 21 resorts and 14 branch offices, 43 direct and 80 franchisee retail sales outlets as of October 31, 2007. It is a subsidiary of Mahindra & Mahindra.
The global coordinator and book running lead manager to the issue is Kotak Mahindra Capital Company and the book running lead manager is HSBC Securities and Capital Markets (India).
"We are overwhelmed with the response to the intended pre-IPO placement and are pleased to have State Bank of India as an investor. This is a testimony to our focus on the hospitality sector and confidence of consumers and investors in the Club Mahindra brand as a leading player in that space," said Arun Nanda, chairman of Mahindra Holidays and Resorts.
Tuesday, Mahindra & Mahindra shares closed up 2.41 per cent at Rs 830.10 on BSE.