Mahindra Holidays & Resorts plans to have close to 5,300 rooms in the next 3- 4 years from the current 3,700 rooms.
Mahindra Holidays and Resorts India Limited's stock got listed on Thursday on the National Stock Exchange and its price opened 5 per cent higher at Rs 315 over the issue price of Rs 300.
The initial public offer of Mahindra Holidays & Resorts got over-subscribed nearly four times on the final day of offer today till 1300 hrs, with most of the bids coming in from institutional investors.
The initial public offer of Mahindra Holidays & Resorts, through which it is expecting to raise up to Rs 301 crore (Rs 3.01 billion), got fully subscribed on the final day of offer on Friday.
While a unique business model, growth opportunity and consistent track record are the positives for the issue, the pricing appears stiff.
The company plans to sell 92,65,275 equity shares of Rs 10 each for cash at a price to be decided entirely through a book-building process. The issue would constitute 11 per cent of the fully diluted post-issue paid up capital of the company. Club Mahindra Holidays plans to raise Rs 400-450 crore (Rs 4-4.5 billion) from the IPO, sources said.
The move to demerge the hotel business into a separate entity by ITC has brought back focus on hotel stocks, which have already seen a good run thus far in fiscal 2023-24 (FY24). Analysts believe there could be more gains in store over the next one year for the stocks in this sector, but suggest investors put in money on a correction only from a long-term perspective. Hotel stocks, according to A K Prabhakar, head of research at IDBI Capital, have seen a good run as travel picked up post Covid in India. Not only have the room rents increased, the occupancy, too, has surged.
'Consumers are willing to increase travel spends by 20-30 per cent versus pre-pandemic.'
After years of being sequestered by the pandemic, some intrepid travellers are planning to settle their score with the novel coronavirus. With fewer or no travel curbs, they are eager to get back on the road, again. Hotels and tour operators, too, are eager to shed excess Covid baggage. And this year's Diwali promises to add that extra layer sparkle with the introduction of new flights.
The domestic hospitality industry is looking to 'fly' in 2023 cashing in on India's G20 presidency, having received the 'oxygen' to run in 2022 after being crippled in the past two years by the pandemic. Domestic travel, especially the leisure segment, gave wind to the industry this year and is expected to continue into the next. Industry players believe that as international arrivals are also likely to pick up even further, the outlook for 2023 is buoyant.
Move over pakodas! It's time to make way for these monsoon snacks.
Mahindra Holidays and Resorts India Ltd, part of the Mahindra and Mahindra Group, on Tuesday said it was in the process of identifying several locations in neighbouring countries to set up resorts.
Don't count too much on the anchor investor quota, as it will provide stability to the stock for only a short period
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
The revival of the initial public offer market has prompted brokerages to re-start margin funding, a process by which they finance high net worth clients to subscribe to new issues.
While some bankers said that responses to the Sebi are being delayed deliberately in some of the cases in view of the turbulent market conditions prevailing on the bourses, those associated with some of these deals said these are 'routine' clarifications and would be responded in the due course. According to the latest processing status as on March 14 of draft offer documents filed with Sebi, clarifications are currently awaited from lead managers in relation to 20 IPOs.
The Mahindra Holidays initial public offer --the third public float in the current year and the single largest issue over the last 12 months--was subscribed 11 times and four companies raised an estimated Rs 4,000 crore yesterday through QIPs. This came after realtor Unitech's announcement on Friday that it has raised over Rs 2,700 crore via a QIP at Rs 81 a share.
Around five million foreign tourists had visited India in 2007 which was a big jump from the 3.92 million tourists during the previous year, Union Tourism and Culture Minister Ambika Soni said. Around 400 million domestic tourists had also traveled across different parts of the country during 2007.
M&M will close down GenZe, an e-scooter business in California, because it is unlikely it would stand on its own feet, and is ahead of its time.
The regulator will conduct forensic audit of all the seized documents, laptops, and mobile phones, which are suspected to be involved in the fraudulent activity, reports Shrimi Choudhary.
'Today, according to the law, you can't even claim legal expenses when fighting a case as a non-executive director unless you are acquitted. Given how high legal expenses are, that alone is enough to scare anyone away.'
While gold returned 12 per cent annual gain in 10 years, Nifty didn't exceed 9 per cent.
market rally, especially in mid-caps, has also been driven by a pick-up in the monsoon and the government's resolve to get the goods and services tax (GST) Bill cleared in the recent session of Parliament.
E-mobility is only one among the several fronts on which Mahindra is waging a battle of aspirations, to future-proof the $19-billion tractor-to-technology conglomerate, says Nikhil Inamdar.
From selling 14,000 Jeeps in 1973, we slipped to selling just 7,000 vehicles within just three-and-a-half years by 1976.
© 2026 Rediff.com - Investor Information - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances