Mahindra Lifespace surges on the buzz to raise Rs 500 crore via triple tranche bonds

25 Mar 2013 Evaluate

Mahindra Lifespace Developers is currently trading at Rs. 381.75, up by 6.00 points or 1.60% from its previous closing of Rs. 375.75 on the BSE.

The scrip opened at Rs. 371.35 and has touched a high and low of Rs. 381.75 and Rs. 371.35 respectively. So far 60 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. 283.95 on 10-May-2012.

Last one week high and low of the scrip stood at Rs. 405.00 and Rs. 371.25 respectively. The current market cap of the company is Rs. 1527.23 crore.

The promoters holding in the company stood at 51.05% while Institutions and Non-Institutions held 31.42% and 17.32% respectively.

Mahindra Lifespaces Developers is reportedly planning to raise Rs 500 crore through a three-tranche bond sale with a yield of 10.78% each. The Mumbai based real estate firm would be raising Rs 125 crore through 3-years zero coupon bonds, which would yield 10.78% at redemption. It would raise Rs 175 crore through 4-year bonds and Rs 200 crore via 5-year bonds, with a coupon rate of 8% each. Further, HDFC Bank and Kotak are the arrangers for the bond sale.

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.

Mahindra Life. Dev Share Price

386.90 4.20 (1.10%)
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