FID Funds Mauritius has sold 1.09% stake in Mahindra Lifespace Developers for Rs 18.28 crore. It sold 0.45 million shares at a price of Rs 410.01 a share on the National Stock Echange (NSE).
The company is the real estate and infrastructure development subsidiary of Mahindra & Mahindra (M&M). At present, M&M holds 51% of the equity share capital of MLDL. MLDL has two main lines of businesses - standalone real estate development and development of integrated business cities.