Singapore-based fund management firm Amansa Investments, which held 24,34,599 shares or 5.96% stake in Mahindra Lifespace at the end of September quarter, has offloaded its entire holding in the company. However, buyer of the shares could not be ascertained.
The company has sold the stake in the real estate arm of Mahindra Group for Rs 101 crore at an average price of Rs 414.88 per share.
Mahindra Lifespace Developers (MLDL) 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.
