Mahindra Holidays refiles IPO draft papers: Report

Mahindra Holidays refiles IPO draft papers: Report

Mumbai: Mahindra Holidays & Resorts India Ltd, a unit of Indian utility vehicle maker Mahindra & Mahindra yesterday revived efforts for a IPO by refiling its draft offer documents with the regulator.

“The company, which owns Club Mahindra Holidays’ resorts, plans to sell 9.27 million shares, representing 11% of the post-issue paid up capital," it said in a statement.

Mahindra Holidays, which runs 27 resorts in India and Thailand, had initially filed offer documents in December 2007 but did not press ahead with the offer then.

“Kotak Mahindra Capital Co, SBI Capital Markets and HSBC are the lead managers for the issue," the statement said.

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