Mahindra Lifespace Developers trades in green on the BSE

03 Jan 2013

Mahindra Lifespace Developers is currently trading at Rs 424.55, up by 3.00 points or 0.71% from its previous closing of Rs 421.55 on the BSE.

The scrip opened at Rs 427.00 and has touched a high and low of Rs 427.30 and Rs 421.05 respectively. So far 2813 shares were traded on the counter.

The BSE group 'B' stock of face value Rs 10 has touched a 52 week high of Rs 452.00 on 19-Nov-2012 and a 52 week low of Rs 243.05 on 05-Jan-2012.

Last one week high and low of the scrip stood at Rs 431.00 and Rs 405.35 respectively. The current market cap of the company is Rs 1733.25 crore.

The promoters holding in the company stood at 51.05% while Institutions and Non-Institutions held 31.78% and 16.96% respectively.

Foreign Institutional Investor’s (FII) holding in Mahindra Lifespace Developers, the real estate and infrastructure development arm of the $15.4 billion Mahindra Group, has reached 27.63% of the paid-up equity capital of the company as on December 31, 2012. This is as per the latest download of beneficiary position made available to the company by the Depositories (NSDL and CDSL) and as confirmed by the Registrar & Share Transfer Agents of the company.

Earlier, the company’s shareholder’s resolution dated August 10, 2005 has approved the overall limit for FIIs holding in the share capital of the company up to 30% of the paid-up equity capital of the company. The Reserve Bank of India has notified on September 20, 2005 that FIIs can now purchase under Portfolio Investment Scheme (PIS) equity shares of the company through primary markets and stock exchanges in India up to 30% of its paid up equity capital.

Further, RBI has informed the company via letter dated September 20, 2005 and December 07, 2006 that RBI will be monitoring the FII investments under PIS at sectoral cap/statutory ceiling as applicable and not at the intermediate ceiling fixed by the company.

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.

Related Mahindra Lifespace Developers Ltd. Links:

Mahindra Life. Dev Share Price

513.65 3.60 (0.71%) Feb 26, 18:55
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SEBI Registered: Investment Adviser - INA000013323

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