Mahindra Group firm Mahindra Holidays & Resorts India Ltd (MHRIL) on Friday said it has acquired 6.67 per cent stake in adventure-based activities provider, Great Rocksport Pvt Ltd. The company however did not disclose the financial details of the deal.
MHRIL has acquired a strategic minority stake (6.67 per cent) in Great Rocksport, it said in a filing to BSE . "Our strategic investment in Rocksport will help enhance outdoor experience offerings at our resorts. Our members and their families will also have access to specially curated Rocksport programs in the cities," MHRIL MD & CEO Kavinder Singh said.
MHRIL looks forward to working with the Rocksport team towards creating unique and immersive experiences, he added. "Club Mahindra is a pioneer in creating memorable experiences for its guests. With this partnership, we are delighted to offer our cutting-edge adventure programs to its members and guests," Great Rocksport Chairman Manish Gupta said.
Rocksport is engaged in providing outdoor entertainment, adventure programs, educational adventure tours and the retailing of branded adventure products in India, the filing said.
Shares of MHRIL were trading at Rs 166.25 per scrip on BSE, up 0.88 per cent from its previous close.