Mahindra Holidays & Resorts India Ltd to invest in Great Rocksport Pvt Ltd

Mahindra Holidays & Resorts India Limited (the "Company") has agreed to subscribe to a minority equity stake in Great Rocksport Private Limited, a company which is engaged in the business of soft adventure based activities and learning programs.

Rocksport is engaged, in the business of undertaking and providing outdoor entertainment, adventure programs, educational adventure tours and retail of branded adventure products in India.

The investment in Rocksport will increase customer engagement avenues for the Company, whereby the Company and Rocksport can engage in multiple formats for its members - especially within resorts of the Company. Further, it is expected that there will be cross selling of products by both parties for their growth and benefits.

The Company will subscribe for 6.67% stake in the issued and paid up share capital through issue of new shares by Rocksport on or before November 30, 2020.

Shares of MAHINDRA HOLIDAYS & RESORTS INDIA LTD. was last trading in BSE at Rs.168.05 as compared to the previous close of Rs. 166.2. The total number of shares traded during the day was 1129 in over 72 trades.

The stock hit an intraday high of Rs. 170.05 and intraday low of 166.3. The net turnover during the day was Rs. 189360.

Source : Equity Bulls

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