Mahindra Lifespace Developers has informed that the Rights Issue Committee meeting held on 20th March, 2017 has approved the following with respect to the issue - BSE has been approved as the Designated Stock Exchange for the Issue; Issue of up to 10,273,600 equity shares with a face value of Rs 10 each for cash at a price of Rs 292 per equity share including a premium of Rs 282 per equity share (Rights Equity Shares) for an amount up to Rs 2,999.89 million on a rights basis to the eligible equity shareholders of the Company in the ratio of 1:4, that is, 1 Rights Equity Share for every 4 fully paid-up equity shares of the Company held by existing equity shareholders as on the Record Date; Friday, 31st March, 2017 has been fixed as the Record Date for determining the shareholders eligible to apply for the Rights Equity Shares in the Issue; and approved the appointment of intermediaries to the Issue.
The above information is a part of company’s filings submitted to BSE.
