Mahindra Holidays and Resorts ipo has been quite successful. Retail Quota has been over subscribed by 3 times.And most of ou would be anxious about the allotment status and allocation details .

check your allotment status here.

Details about Mahindra Holidays IPO:

Mahindra Holidays & Resorts had raised Rs 120 crore by selling 2% stake to SBI and 1% stake to Jacob Ballas in February 2008. The transaction had taken place at Rs 479 a share. But it is unlikely that the company would have the same valuation now.

The company has been popularly called Club Mahindra and i would name this IPO ” Club Mahindra IPO”

Company plans to dilute 11% stake through this Public Offer.
Im going to invest in this company.Will post more details about Date of IPO , Subscription Details, Grey Market Premium , Allocation details and Allotment status.

Mahindra Holidays & Resorts  has fixed the price band of its IPO between Rs 275 and Rs 325 per share. The IPO of 92,65,275 equity shares of Rs 10 each, at a price to be decided through book-building process, opens on June 23 and closes on June 26.

The issue has been assigned 4 out of 5 IPO grading by Fitch Ratings reflecting ‘above average fundamentals’.

The issue comprises fresh issue of 58,96,084 equity shares and offer for sale of 33,69,191 shares by Mahindra & Mahindra Ltd. The issue would constitute 11.0% of the fully diluted post-issue paid-up capital.

At least 60% of the issue will be allocated on proportionate basis to Qualified Institutional Buyers, out of which 5% will be available for allocation to mutual funds. Further, not less than 10% of the issue will be available for allocation to non-institutional bidders and not less than 30% for allocation to retail individual bidders.

The proceeds from the IPO will be deployed in the setting up of new projects and expansion of some of the existing resorts, to provide a larger range of resorts, and hence a wider choice of holiday destinations to members.

Will you invest in this company ? comment on your views .