Mahindra Holidays IPO ends with a modest premium

Mahindra Holidays and Resorts India IPO (MHRIL IPO), ended its first trading session with a premium of 5.82% to its issue price of Rs 300. The share closed at Rs 317.45 on the NSE.

It touched an intraday high of Rs 374.50 and intraday low of Rs 311.35. The total traded quantity was 1,27,46,398 shares and turnover was at Rs 41452.56 lakh.

On the BSE, the share closed at Rs 317.10 at a premium of 5.57% to its issue price. It touched an intraday high of Rs 339.70 and intraday low of Rs 311.10.

Mahindra Holidays IPO had listed at Rs 370 on the NSE at a premium of 23.33% to its issue price. On the BSE, the share had opened at Rs 315, at a premium of 5% to its issue price.

Mahindra Holidays IPO was subscribed 9.8 times.The proceeds from MHRIL's issue are expected to be deployed in the setting up of new projects and expansion of some of the existing resorts.

Source: MoneyControl.com

Mahindra Holidays IPO receives solid response: subscribed 9.74 times

Mahindra Holidays IPO receives bids for 9.02 crore shares as against 92.65 lakh shares on offer.

Mahindra Holidays & Resorts India initial public offer was subscribed 9.74 times on the last day of subscription today as per the data on NSE website at 17:00 IST. The issue which opened for subscription on 23 June 2009 got bids for 9.02 crore shares as against 92.65 lakh shares on offer.

The company's 92.65 lakh public issue represents 11% of the post-issue paid up capital. The Mahindra Holidays IPO price band is Rs 275-Rs 325.

Mahindra Holidays & Resorts India runs the shared vacation home business, Club Mahindra Holidays. India's largest tractor maker by sales Mahindra & Mahindra holds 93.64% in the company.

The Mahindra Holidays IPO proceeds will be utilised in expanding current properties and adding five new properties at Kumbalgarh in Rajasthan, Kadambakkam in Tamil Nadu, Binsar in Uttaranchal, Theog in Himachal Pradesh, and Tungi in Maharashtra.

Mahindra Holidays & Resorts India, a unit of Mahindra & Mahindra, had raised nearly Rs 120 crore by selling 2% stake to State Bank of India and 1% stake to Jacob Ballas India Fund in February 2008. The transaction had taken place at Rs 479 a share.

The company's net profit fell 5% to Rs 79.80 crore on 11% rise in sales to Rs 393.19 crore in the year ended March 2009 over the year ended March 2008.

Source: CapitalMarket.com

Mahindra Holidays IPO subscribed 0.86 times

Mahindra Holidays and Resorts India (MHRIL), a part of the Mahindra Group, opened for subscrption 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 was subscribed 0.86 times, till 5 pm on June 25 - the third day - as per the data available on the NSE website.

Mahindra Holidays IPO has received bids for 79,58,540 shares as against issue size of 92,65,275 shares.

Qualified institutional investors gave good response to the issue compared to retail and domestic institutional investors; their portion subscribed 0.63 times, till June 24.

The bid/ issue will close on June 26, 2009. The Mahindra Holidays IPO price band has been fixed at Rs 275-325 per share. The size of the issue stands 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) will 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 comprises 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 (India) Private Limited and SBI Capital Markets are the BRLMs. The equity shares are proposed to be listed on the Nationa

Source: MoneyControl.com

Mahindra Holidays IPO subscribed 0.40 times by day two

Receives bids for 36.93 lakh shares as against 92.65 lakh shares on offer

Mahindra Holidays & Resorts India initial public offer (IPO) saw modest response on day two. It was subscribed by 0.40 times (by 16:00 IST). The issue which opened for subscription on 23 June 2009 got bids for 36.93 lakh shares as against 92.65 lakh shares on offer.

The company's 92.65 lakh public issue representing 11% of the post-issue paid up capital will remain open till 26 June 2009.

The IPO proceeds will be utilised in expanding current properties and adding five new properties at Kumbalgarh in Rajasthan, Kadambakkam in Tamil Nadu, Binsar in Uttaranchal, Theog in Himachal Pradesh, and Tungi in Maharashtra.

Mahindra Holidays & Resorts India, a unit of Mahindra & Mahindra, had raised nearly Rs 120 crore by selling 2% stake to State Bank of India and 1% stake to Jacob Ballas India Fund in February 2008. The transaction had taken place at Rs 479 a share.

Mahindra Holidays & Resorts India runs the shared vacation home business, Club Mahindra Holidays. India's largest tractor maker by sales Mahindra & Mahindra holds 93.64% in the company.

Source: CapitalMarket.com

Mahindra Holidays IPO sees dismal response on day one

Mahindra Holidays IPO receives bids for 4.11 lakh shares as against 92.65 lakh shares on offer.

Mahindra Holidays & Resorts India got poor response for its initial public offer (IPO) on day one. The issue which opened for subscription today, 23 June 2009 got bids for 4.11 lakh shares (by 16:00 IST) as against 92.65 lakh shares on offer.

The company's 92.65 lakh public issue representing 11% of the post-issue paid up capital will remain open till 26 June 2009.

The Mahindra Holidays IPO proceeds will be utilised in expanding current properties and adding five new properties at Kumbalgarh in Rajasthan, Kadambakkam in Tamil Nadu, Binsar in Uttaranchal, Theog in Himachal Pradesh, and Tungi in Maharashtra.

Mahindra Holidays & Resorts India, a unit of Mahindra & Mahindra, had raised nearly Rs 120 crore by selling 2% stake to State Bank of India and 1% stake to Jacob Ballas India Fund in February 2008. The transaction had taken place at Rs 479 a share.

Mahindra Holidays & Resorts India runs the shared vacation home business, Club Mahindra Holidays. India's largest tractor maker by sales Mahindra & Mahindra holds 93.64% in the company.

Source: CapitalMarket.com