Mahindra & Mahindra has divested 7.5 percent stake in the group hospitality arm Mahindra Holiday & Resorts India Ltd (MHRIL) for around Rs 274.36 crore.

Mahindra & Mahindra has said in a BSE filing that pursuant to approval of the board of directors, the company today sold 66,58,565 shares representing 7.5 percent of the share capital of Mahindra Holidays & Resorts India Ltd.

It added that the sale has been executed at an average gross price of Rs 412.05 per share.

However, the company did not disclose to whom the shares have been sold.

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