Mahindra Holidays Buys Aditatva Estates; Relaxo Forms Solar SPV

Mahindra Holidays & Resorts India has completed a Rs 37.5 crore acquisition of Aditatva Estates, significantly expanding its leisure resorts business. Separately, Relaxo Footwears formed a Special Purpose Vehicle (SPV) for a captive solar power project to supply renewable energy to its Haryana manufacturing facilities.

Mahindra Holidays Expands Leisure Resorts

Mahindra Holidays & Resorts India (MHRIL) announced the acquisition of 100% equity stake in Aditatva Estates. This strategic move, effective June 15, 2026, aims to bolster MHRIL’s presence in the leisure and hospitality sector.

• The total consideration for the acquisition was Rs 37.5 crore.
• Aditatva Estates previously operated a coffee plantation on approximately 50 acres of land in Chikmagalur, Karnataka.
• MHRIL, a part of the Mahindra Group, will leverage this land parcel for its expanding leisure resorts business.

Relaxo Footwears Embraces Solar Power

Relaxo Footwears has incorporated a new Special Purpose Vehicle named Clean Max MUOI. This initiative marks a significant step towards sustainable energy for the company’s operations.

• The SPV was formally incorporated on June 13, 2026, under the Companies Act, 2013, with a Certificate of Incorporation from the Ministry of Corporate Affairs.
• Its primary purpose is the development, operation, and maintenance of captive solar power projects.
• These projects will supply renewable energy to Relaxo Footwears’ manufacturing facilities located across Haryana.
• Relaxo Footwears is recognized as the largest footwear manufacturing company in India, specializing in non-leather products.