MUMBAI, Dec 14 (Reuters) - Hospitality company Mahindra
Holidays & Resorts Ltd said on Friday it may consider a pre-IPO
sale of 2.5 million shares by end-January.
The company, a subsidiary of automobile firm Mahindra &
Mahindra Ltd <MAHM.BO>, said it had filed initial papers with the
stock market regulator for a 10.7-million-share initial public
offering earlier in the day.
"The IPO should open end-January and the listing will open
early February," Chairman Arun Nanda told Reuters over the
telephone.
The company said it will reduce the IPO size proportionately
if the pre-IPO sale of shares is completed.
The IPO will constitute 13 percent of the fully-diluted post
paid up capital of the company and includes a fresh issue of 4.1
million shares and an offer for sale of 6.6 million shares by
Mahindra Holdings & Finance Ltd.
The funds from the issue would be used to expand some
existing resorts and set up new projects.
(Reporting by Jasudha Kirpalani, Editing by Sunil Nair)
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Keywords: MAHINDRA IPO/