Mahindra Holidays & Resorts India to acquire minority stake in Great Rocksport

Mahindra Holidays & Resorts India has agreed to subscribe to a minority equity stake in Great Rocksport, a company which is engaged in the business of soft adventure based activities and learning programs.

Rocksport is engaged, inter alia, in the business of undertaking and providing outdoor entertainment, adventure programs, educational adventure tours and retail of branded adventure products in India.

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.

 

The Company will subscribe to the issue of new shares by Rocksport on or before 30 November 2020. The cost of acquisition is Rs 3.05 crore.

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