The IPP (Institutional Placement Programme) Issue Committee of the board of directors of Mahindra Holidays & Resorts India Ltd has fixed a price band of Rs 255 (floor price) to Rs 265 (cap price) per share for the issue of up to 41,41,084 equity shares of Rs 10 each to qualified institutional buyers.
The price band fixed is close to the closing price of the stock in the BSE on Friday (Rs 262.30). The stock has been on a downward spiral since touching a 52-week high of Rs 358 on Dec 27, 2012. In fact, it dipped to a 52-week low of Rs 244.80 on March 26, 2013 on the BSE.
The issue will open and close on April 9 (tomorrow).