Mahindra Holidays & Resorts India Ltd is set to acquire 100 per cent stake Aditatva Estates Pvt Ltd, which is engaged in coffee plantation business on a 50-acre land parcel in Chikmagalur, Karnataka, for Rs 37.5 crore.
Mahindra Holidays Board greenlighted the proposal on Monday, it informed in a regulatory filing to the exchanges.
The acquisition is expected to be completed by July 31, 2026.
The company intends to leverage the acquisition for expanding its leisure resorts business.
“The company has today executed a share purchase agreement for acquisition of 100 per cent stake in Aditatva,” Mahindra Holidays & Resorts said in the regulatory filing.
Aditatva will become a wholly owned subsidiary of the company, it added.
Upon completion of the acquisition of Aditatva, Mahindra Holidays & Resorts India Ltd will be the owners of all assets, including the said land parcel, which is proposed to be utilised for the development of a leisure resort, the filing said.