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Mahindra Holidays & Resorts India Ltd has planned to launch an institutional placement programme apparently to comply with SEBI regulations for a minimum public shareholding of 25 per cent in the equity of companies listed in India by June this year.
At present, the promoters’ stake in the company is 82.69 per cent.
In a communication to the stock exchanges, the company said that it would issue equity shares through an institutional placement programme in one or more tranches.
While FIIs hold 3.68 per cent stake, the DIIs hold 0.77 per cent stake and others hold 12.86 per cent of the equity as at the end of September 2012, as per the data available with the BSE.
The company shares were trading at Rs 330.35, up by Rs 1.45 on the BSE in the morning trade.
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