We have just received confirmation that Mahindra Holidays has fixed IPO price band for its forthcoming IPO at Rs 275-325 / share. The size of the issue will be Rs 301 crore at the upper end of the price band and Rs 255 crore at the lower end of the band.
The IPO will open for subscription on June-23rd and will close on June-26th.
Mahindra Holidays & Resorts, the 25 year old entity started with an investment of Rs 20 crore, is growing at whopping 43% consolidated annual growth rate (CAGR) from the last four years and enjoys about 75% of the total pie of the domestic resorts market.
The company reported FY09 sales of Rs 400 crore and a Net Profit of Rs 80 crore. Fitch has assigned a rating of 4 on a scale of 5. Stay tuned for complete analysis of the same.
wow, happy days are back again, i will invest