Mahindra Holidays & Resort India Limited signs pre-IPO investment of Rs .8 billion for a 2% 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 2% private placement deal with the State Bank of India for a consideration of around Rs. 0.8 billion. The equity shares to be transferred to the State Bank of India shall be subject to lock-in after the IPO as per SEBI regulations.