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Article: Mahindra Holidays & Resort files DRHP for IPO.
- Article from:
- PTI - The Press Trust of India Ltd.
- Article date:
- December 14, 2007
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Mahindra Holidays & Resort files DRHP for IPO
Mumbai, Dec 14 (PTI) Mahindra Holidays & Resorts, part of USD 4 billion Mahindra Group, today said it has filed a draft red herring prospectus with market regulator SEBI for an initial public offering.
The company plans to issue 1.07 crore equity shares of Rs 10 each in the IPO that would dilute 13 per cent of promoters' equity.
"We would be diluting 13 per cent of our shareholding in Mahindra Holidays and Resorts post the initial public offer," Mahindra and Mahindra Executive Director Arun Nanda told PTI.
Of the 13 per cent dilution, three per cent would be through pre-IPO placement, for ...