Mahindra Holiday & Resort India LTD signs for pre-IPO investment of US$-10.06 million for 1% stake

Mumbai: Mahindra Holidays & Resorts India Limited (MHRIL or the 'Company'), a leisure hospitality provider offering quality family holidays and a subsidiary of Mahindra Holdings and Finance Ltd (a wholly-owned subsidiary of Mahindra & Mahindra Limited), has finalised a 1% private placement deal with NYLIM Jacob Ballas India Fund III, LLC, for a consideration of around US $ 10.06 million. The equity shares to be transferred to NYLIM Jacob Ballas India Fund III, LLC, shall be subject to lock-in after the IPO as per SEBI regulations.