Mahindra Holidays & Resorts India, leader in vacation ownership space in India focusing on quality family holidays, today completed the formalities for increasing its stake to 83.20% in Holiday Club Resorts Oy, Finland (HCR) through its overseas subsidiary.

With this transaction, HCR and HCR Management Oy, Finland, became subsidiaries of the company with immediate effect.

Further, the company will make fresh investment of Euro 10 million in equity of HCR by second week of September 2015. Subsequent to the investment, the company's stake will increase to 86.38%.

Shares of the company gained Rs 0.5, or 0.17%, to settle at Rs 294.75. The total volume of shares traded was 12,704 at the BSE (Wednesday).