Mahindra Lifespace Developers to raise Rs 300 crore through rights issue

28 Oct 2016

Mahindra Lifespace Developers has decided to raise Rs 300 crore through a rights issue. The company's board of directors at their meeting held on October 27, 2016 has approved to raise funds by way of issue of equity shares to the existing shareholders of the company on a rights basis (Rights Issue) up to Rs 300 crore, subject to all applicable statutory and regulatory approvals.

Mahindra Lifespace Developers is a real estate development company. It offers residential and integrated large format construction in Mumbai, Pune, Delhi and NCR, Nagpur, Hyderabad, Chennai and Bengaluru. Its projects include mass housing and township, multi-storied buildings and villas. It also supports sustainable urbanization through green architecture.

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