Mahindra Holidays & Resorts India Limited (the "Company") had earlier agreed to subscribe to a minority equity stake in Great Rocksport Private Limited ("Rocksport"), a company which is engaged in the business of soft adventure based activities and learning programs.
The Company has on Dec 3, 2020, subscribed to 6.67% of the equity share capital of Rocksport for a cash consideration of Rs.3.05 crore.
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.
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.
Shares of MAHINDRA HOLIDAYS & RESORTS INDIA LTD. was last trading in BSE at Rs.202.15 as compared to the previous close of Rs. 196.55. The total number of shares traded during the day was 15220 in over 1015 trades.
The stock hit an intraday high of Rs. 204.8 and intraday low of 197.2. The net turnover during the day was Rs. 3059275.