Here come exciting holiday packages in exchange for equity.
Around 470 Reliance Industries shares priced at Rs 1,199 can buy your family a 12-day holiday to Europe worth Rs 5.6 lakh or around 70 shares (at Rs 445) of India’s largest IT firm, Tata Consultancy Services, can buy you a five-day holiday in Bangkok worth Rs 30,000.
A Mumbai-based travel company—Lifestyle Holidays— has found a novel way to facilitate travel plans of people who wish to beat the downturn and plan a family holiday.
Lifestyle Holidays has introduced an ‘Equity Scheme’ under which it is offering holiday packages in exchange for equity shares.
The company says on its website that one can buy holiday packages by off-loading selected stocks from their existing portfolio. What else? The company is also offering a 10 per cent premium on the current value of the demat shares.
“We have selected some key companies whose shares we will buy from people who wish to sell it in return for a holiday package. It’s for the first time that any company has come up with such an idea,” said Nikhil Dalal, director, Lifestyle Holidays.
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Lifestyle Holidays has selected around 72 A-group companies which include: Aban Offshore, Axis Bank, Asian Paints, Bombay Dyeing, Bharat Petroleum Corporation, Colgate Palmolive, HDFC Bank, Hero Honda Motors, HUL, Indian Hotels, Infosys Technologies, Jet Airways, Reliance Industries, Reliance Capital, Tata Motors, Tata Consultancy Services, Wipro etc.
The company says it has selected the scrips of these companies as they are available at a reasonable price today. It plans to hold on to these shares once it procures them from interested sellers.
Lifestyle Holidays has so far received confirmation from around 16 people who wish to buy a holiday plan in return of shares they hold.
If an interested person does not have enough shares, the company is also providing the option of part-financing the holiday with cash.
Brokerage fee, stamp duty and service tax will be applicable if a person chooses to sell the shares in return for a holiday plan. The procedure of transferring shares will take around two days.
Lifestyle Holidays is an offspring of Bulls and Bears Finance Limited, promoted by V Jethalal Ramji Share Brokers Private Ltd (VJR Group), a stock broking firm. Its clientele include Indian institutions, NRIs and High Net Worth Individuals.