Mahindra Holidays & Resorts India (MHRIL) has agreed to subscribe to an additional 4,88,321 equity shares of Great Rocksport (Rocksport) in three installments for a total cash consideration of Rs 12 crore. After completion of the second tranche investment, the company’s shareholding in Rocksport will go up from 6.67% to 23.42%.
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.
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.
