Mahindra Holidays and Resorts India, a part of the Mahindra Group listed at Rs 370 on the NSE, at a premium of 23.33% to its issue price of Rs 300 a share.
At 9.56 am, the share was trading at Rs 320.85, at a premium of 6.95% to its issue price. The share touched an intraday high of Rs 374.50 and an intraday low of Rs 315 in the early trade. The total traded quantity was 3,54,757 shares and turnover was at Rs 1,140.76 lakh.On the BSE, the share opened at Rs 315, at a premium of 5% to its issue price of Rs 300. It touched an intraday high of Rs 339.7 and intraday low of Rs 312.70.
The issue had opened for subscription between June 23 and June 26, 2009, with an initial public offering (IPO) of 92,65,275 equity shares. The size of the issue stood at Rs 277.95 crore at the issue price. The issue was subscribed 9.8 times.
The proceeds from MHRIL’s issue are expected to be deployed in the setting up of new projects and expansion of some of the existing resorts.
Source: moneycontrol.com
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