NEWS| Mahindra Holidays fixes IPO price band at Rs 275-325/sh

Mahindra Holidays and Resorts India (MHRIL), one of the leading leisure hospitality providers in India offering quality family holidays and a part of Mahindra Group, is entering the capital market with an initial public offering of 92,65,275 equity shares of Rs 10 each for cash at a price to be decided through a 100% book-building process.






The bid/ issue will open on June 23, 2009, and close on June 26, 2009. The IPO price band is fixed at Rs 275-325 per share. The size of the issue will be Rs 301 crore at the upper end of the price band and Rs 255 crore at the lower end of the band. M&M (Mahindra and Mahindra) will raise Rs 90.7-123 crore from the sale of 33 lakh shares and it will hold 83% of the Mahindra Holidays post issue.

The issue has been assigned 4 out of 5 IPO grading by Fitch Ratings India Private Limited reflecting 'above average fundamentals’ of the issue relative to other listed equity securities.




Its reported FY09 sales were at Rs 400 crore and profit was at Rs 80 crore.

Experts Opinion

Economic Times | Better to play in secondary market

Money Control | Mixed Reactions

Are you going to apply? Leave your comments.