Mahindra Holidays & Resorts to debut on BSE, NSE on 16 July 2009

The IPO was subscribed nearly 10 times

Mahindra Holidays & Resorts India (MHRIL) will debut on the secondary equity markets in India on Thursday, 16 July 2009. On NSE, the stock will be listed under the symbol ‘MHRIL'.

MHRIL had priced its initial public offer (IPO) at Rs 300 each. The IPO had got strong investor response. It was subscribed nearly 10 times. The issue closed on Friday, 26 June 2009.

The post-issue equity capital of the company is Rs 84.22 crore. Face value per share is Rs 10.

MHRIL runs the shared vacation home business, Club Mahindra Holidays. The IPO proceeds will be utilised in expanding current properties and adding five new properties at Kumbalgarh in Rajasthan, Kadambakkam in Tamil Nadu, Binsar in Uttaranchal, Theog in Himachal Pradesh, and Tungi in Maharashtra.

The company's net profit fell 5% to Rs 79.80 crore on 11% rise in sales to Rs 393.19 crore in the year ended March 2009 over the year ended March 2008.