Mahindra Holidays & Resorts India is all set to sell its entire investment consisting of 5,738 equity shares (10.76% stake) in Nreach Online Services (Nreach), held as an investment by the company. The company has entered into an agreement for sale of shares on February 17, 2022. The sale is expected to be completed by on or before July 31, 2021.
The company had invested in Nreach in October 2016 and the said investment is held as an unquoted investments. Nreach is neither an associate nor a subsidiary company and hence, it does not impact turnover or revenue or income of the company. The carrying value of investments as on March 31, 2021 was Rs 3 crore.
Mahindra Holidays & Resorts India (MHRIL), a part of Leisure and Hospitality sector of the Mahindra Group, offers quality family holidays primarily through vacation ownership memberships and brings to the industry values such as reliability, trust and customer satisfaction.
