Question: Recently how much per cent of stake has been sold by Mahindra & Mahindra in the hotel company Mahindra Holidays & Resort India Limited?
(A) 6 percent
(B) 6.5 percent
(C) 7.5 percent
(D) 8 percent
Answer- (c)
Related facts:
- On March 10th, 2017, Mahindra and Mahindra sold a 7.5 per cent stake in the group hospitality arm Mahindra Holidays & Resorts India Ltd (MHRIL) for around Rs. 274.36 crore.
- After approval of the board of directors, the company sold 66,58,565 shares representing 7.5 per cent of the share capital of Mahindra Holidays & Resorts India Ltd.
- The sale has been executed at an average gross price of Rs. 412.05 per share.
- Following the sale, the shareholding of the company in MHRIL has reduced to 67.5 per cent from 75 per cent.
Related links:
http://www.thehindubusinessline.com/markets/stock-markets/mm-sells-75-mahindra-holidays-stake-for-rs-274-cr/article9579220.ece
http://www.indiainfoline.com/article/news-top-story/m-m-divestment-m-m-divests-7-5-from-mahindra-holidays-117031000209_1.html
http://economictimes.indiatimes.com/markets/stocks/news/mahindra-mahindra-divests-7-5-mahindra-holidays-stake-for-rs-274-crore/articleshow/57574307.cms