Mahindra Lifespace Developers has opened Rs 300 crore rights issue on April 12, 2017. The issue will close on April 26. The company has issued up to 1.02 crore equity shares for cash at Rs 292 on rights basis to eligible shareholders.
The entitlement ratio is one equity shares for every four fully paid-up equity shares held as on the record date - March 31. Proceeds from the issue will primarily be used for redemption of non-convertible debentures.
Mahindra Lifespace Developers is a leader and pioneer in sustainable urban development, through the creation of residential and integrated large format developments across multiple city-clusters - Mumbai Metropolitan Region (Mumbai, Thane, Palghar, Alibaug and Boisar), Pune, Nagpur, Ahmedabad, Nashik, the National Capital Region (New Delhi, Gurgaon and Faridabad), Jaipur, Hyderabad, Bengaluru and Chennai.
