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Thursday, November 29, 2007

M&M plans to float Mahindra Holidays IPO by Mar 08

Arun Nanda, ED, M&M said that the company has planned to float Mahindra Holidays and Resorts IPO by March 2008. It will file red herring prospectus next week and has finalised 2 merchant bankers for IPO, reports CNBC-TV18.

Internal accruals will also fund expansion plans of the Mahindra Resorts. Mahindra Holidays and Resorts will be a combination of resorts, real estate. They are looking for properties in S Asia, S Africa and Europe.

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