First State Investment Management (UK) and its associates have acquired 836,082 shares in realty firm Mahindra Lifespace Developers through open market transactions between August 29, 2012 and June 28, 2013. Pursuant to this, First State Investment Management’s stake in the company has increased to 7.13% from 5.09% earlier. The promoters have 51.04% stake in the company as on March 31, 2013.
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.
