Mahindra Holidays & Resorts India Limited announced on Thursday that it will acquire 6.67% of the share capital of Great Rocksport Private Limited (“Rocksport”) for Rs 3.05 crore consideration.
The tourism company stated in its BSE regulatory filing, “We would like to inform you that Mahindra Holidays & Resorts India Limited (the “Company”) has agreed to subscribe to a minority equity stake in Great Rocksport Private Limited, a company which is engaged in the business of soft adventure based activities and learning
programs.”
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. It’s turnover in the previous year FY2020 was Rs 27.73 crore.
Mahindra Holidays stated, “It is expected that 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.”
The Club Mahindra company will subscribe to the issue of new shares by Rocksport on or before November 30, 2020.
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