Mahindra Holidays Buys Aditatva Estates; Relaxo Forms Solar SPV
Coffee plantation in Chikmagalur, Karnataka
Key Highlights
Mahindra Holidays acquires Aditatva Estates for Rs 37.5 Cr, expanding leisure resorts. Relaxo Footwears forms solar SPV for renewable energy in Haryana.
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.