Mahindra Holidays files for IPO

Mahindra Holidays & Resorts India (MHRIL), a leisure hospitality provider and part of the Mahindra Group, on Tuesday filed the draft red herring prospectus with SEBI.

The company plans to sell 9.2 million shares through the book-built issue. The offer would constitute 11% of the fully diluted post-issue paid-up capital of the company.

A compounded growth rate of 52% for the last 4 years has prompted the company to go for an IPO at a time when the market has turned choppy, company officials said.