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Mahindra Holidays and Resorts lists at premium

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MAKING DEBUT: Keshub Mahindra (right), Chairman, Mahindra Group, and Anand Mahindra, Vice-Chairman & Managing Director, Mahindra & Mahindra, ringing the bell to list the Mahindra Holidays & Resorts equity shares on the National Stock Exchange in Mumbai on Thursday.
MAKING DEBUT: Keshub Mahindra (right), Chairman, Mahindra Group, and Anand Mahindra, Vice-Chairman & Managing Director, Mahindra & Mahindra, ringing the bell to list the Mahindra Holidays & Resorts equity shares on the National Stock Exchange in Mumbai on Thursday.

MUMBAI: Mahindra Holidays and Resorts India (MHRIL) on Thursday listed on Bombay and National Stock Exchanges, at a premium of five per cent over the issue price. The Mahindra group company has raised Rs. 275 crore through its Initial Public Offering (IPO) last month.

“We have raised around Rs. 275 crore of which Rs. 100 crore will go to Mahindra (group) and the remaining Rs. 175 crore to Mahindra Holidays. This Rs. 175 crore will be used for our projects and expansion,” MHRIL’s Managing Director, Ramesh Ramanathan, told reporters at the listing ceremony of the company here.

The company came out with its IPO on June 23 offering 92.6 lakh equity shares. The issue closed on June 26 and was fully subscribed.

On the National Stock Exchange, the company’s scrip closed at Rs. 317.45 after touching an intra day high of Rs. 374.50 against the offer price of Rs. 300 a share. — PTI

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