The Amarchand Mangaldas team led by Mumbai based Equity Capital Markets Partner Gaurav Gupte acted as Indian legal counsel to Kotak Securities Limited, ICICI Securities Limited and Religare Capital Markets Limited acting as brokers for the offer for sale through stock exchanges and to Kotak Mahindra Capital Company Limited, ICICI Securities Limited and Religare Capital Markets Limited acting as book running lead managers for the institutional placement programme. This included the following (i) Offer for sale through stock exchanges by Mahindra & Mahindra Limited of 3,400,000 equity shares of Mahindra Holidays & Resorts India Limited; and (ii) Institutional placement programme of 4,141,084 equity shares by Mahindra Holidays & Resorts India Limited.

On completion of both these transactions, Mahindra Holidays & Resorts India Limited has achieved public shareholding of 25 per cent. The deal size for the offer for sale through stock exchanges is INR 922.54 million and for the institutional placement programmes is INR 1,055.98 million.