On September 15, Mahindra Holidays & Resorts India completed an investment of Rs 12 crore in Great Rocksport. With this investment, the company’s stake in Great Rocksport has increased to 23.42 per cent of its paid-up share capital.

In the month of April, Mahindra Holidays & Resorts India on Sunday announced an additional subscription of equity shares in Great Rocksport Private Limited. Recently, the Mahindra Group-backed company held a 6.67 per cent equity stake in Rocksport. To subscribe to additional equity shares 4,88,321 of Rocksport in three instalments with total cash consideration of Rs 12 crore.

The first tranche of the acquisition was carried out on April 16 when Mahindra Holidays acquired 1,62,774 equity shares. While the second tranche is expected to complete on July 1, when Mahindra Holidays will acquire 1,83,121 equity shares worth Rs 4.5 crore. After the second tranche of investment, the shareholding in Rocksport will go up from 6.67 per cent to 23.42 per cent.