Indian Stock Market News and Analysis

Mahindra Holidays needs Rs 400 cr to expand: M&M

Mahindra Holidays and Resorts India, a leisure hospitality provider offering quality family holidays and part of the Mahindra Group of Companies, has filed its draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) for an initial public offering (IPO) of 10,719,347 equity shares of Rs 10 each for cash at a price to be decided through a 100% book-building process. The issue would constitute 13.0% of the fully diluted post-issue paid-up capital of the company.