Chennai, Dec 14 (UNI) Mahindra Holidays and Resorts India Limited, a leisure hospitality provider and part of Mahindra Group of companies, had filed its Draft Red Herring Prospectus (DRHP) with the SEBI for an initial public offering of 10,719,347 equity shares of Rs ten each.
Talking to newspersons here today, company Managing Director Ramesh Ramanathan said the issue would constitute 13 per cent of the fully diluted post-isssue paid-up capital of the company.
The issue comprises a fresh issue of 4,122,826 equity shares and an offer of sale of 6,596,521 equity shares by Mahindra Holdings and Finance Limited (the selling shareholder), he added.
Mr Ramesh said the objects of the issue, including financing the expansion of some of its existing resorts and setting up new projects.
The company had planned to construct new resorts and projects in Tamil Nadu, Puducherry, Rajasthan, Uttaranchal, Himachal Pradesh and Maharashtra, he added.