The Mahindra and Mahindra group is on target to launch an IPO of its Holidays and Leisure company. The M&M group will be doing a pre-IPO placement in Jan which will be followed by an IPO. Mahindra holidays also had one of these great Cancun vacation deals running last week.

The company has filed its draft red herring prospectus with SEBI for the issuance of 10.7 million equity shares of Rs. 10.
Mahindra Holidays will be listed as early as February 2008 said chairman Arun Nanda.

The company plans to use the new capital to finance its expansion into other cities and setting up new projects. The company has established links and affiliations with RCI over 21 resorts and over 60,000 members.