- 10:22 AM Larsen and Toubro top loser on Sensex
- 10:13 AM Siemens declares FY09 results; stk down 8.2%
- 10:10 AM Dubai default jitters: 'Mkts poised for correction...
- 10:04 AM Suzlon Energy arm REpower wins 954 MW order; stk u...
- 10:00 AM Indian mkts rattled from Dubai default impact
- 09:53 AM Mitesh Thacker's top picks for trade today
- 09:50 AM Support for Nifty at 4909-4835: Khandwala
- 09:49 AM Nifty slips over 2%, breaches 4900 on Dubai's debt...
- 09:45 AM Nifty has support at 4950-4960: Reliance Money
- 09:41 AM Dubai's debt mkt concerns to dent sentiments in As...




Mahindra Holidays and Resorts India (MHRIL), a part of the Mahindra Group, closed for subscription with an initial public offering (IPO) of 92,65,275 equity shares of Rs 10 each for cash at a price to be decided through a 100% book-building process.
The issue received fabulous response on the last day and got subscribed 9.8 times. It has received bids for 9,08,33,800 shares as against issue size of 92,65,275 shares.
Subscription Details
Investors Times Qualified institutional buyers 12.83 Non institutional investors 11.01 Retail individual investors 03.36 Total 09.80
Qualified institutional buyers gave strong response to the issue, with their portion being subscribed 12.8 times followed by non institutional investors with 11 times subscription.
The IPO price band was between at Rs 275-325 per share. The size of the issue stood at Rs 301 crore at the upper end of the price band and Rs 255 crore at the lower end of the band. M&M (Mahindra and Mahindra) would raise Rs 90.7-123 crore from the sale of 33 lakh shares and it will hold 83% of the Mahindra Holidays post issue.
The issue comprised a fresh issue of 58,96,084 equity shares and an offer for sale of 33,69,191 equity shares by Mahindra and Mahindra (the “selling shareholder”). The issue would constitute 11.0% of the fully diluted post-issue paid-up capital of the company.
The proceeds from MHRIL’s proposed issue are expected to 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.
The global coordinator and book running lead manager (BRLM) is Kotak Mahindra Capital Company Limited. HSBC Securities & Capital Markets (
Corporate Action Today
Important Events in Business Today
| ERROR|28|Operation timed out after 10 seconds with 1286 out of 3083 bytes received |
Business
Business News | Economy | Earnings | BSE NSE Notices
General News
Current Affairs | Politics | World News | Sports | Entertainment
Corporate Strategy
Management | Advertising | Marketing | Legal
Personal Finance
Tax | Insurance | Credit Cards | Loans | Property | Retirement | Investment Help | Financial Planning | Fixed Income
Markets
Local Market | Global Market | Market Cues | Analysis | Expert & FII outlook | Brokerage Recomendation
Stocks
Stocks in News | Expert Advice | ADRs & GDRs | IPO
Mutual Funds
News | Advice | MF Analysis | Fund Managers Views
Lifestyle
Travel | Wellness | Technology | Auto| Books
-
Most Read
-
Most Viewed
- 10 Companies that FIIs love
- 10 companies that MF managers love
- Sensex ends 344 pts down; mkts see highest turnover ever
- Global mkts panic on Dubai's debt rescheduling
- Indian mkt to reach new highs in 2010: Roubini firm

- Ashwani Gujral's top five picks for today's trade

- Nov series ends with a whimper, experts see a quiet Dec

- Ranbaxy launches new drug in the US: PharmAsiaNews
- BMW unveils new 5 Series sedan
- Offer for Areva T&D unit 'competitive', says Alstom

- Lanco Infra tying up funds for three power projects
Source: Business Line
- RIL units to get 20% of gas needs from D-6
Source: Business Line
- No need to ban cotton export, says Maran
Source: Business Line
- Karnataka hikes power tariff by 34.16 paise/unit
Source: Business Line










