Mahindra Lifespace Developers trades in green on the BSE

20 Aug 2013

Mahindra Lifespace Developers is currently trading at Rs 440.10, up by 3.15 points or 0.72% from its previous closing of Rs 436.95 on the BSE.

The scrip opened at Rs 443.00 and has touched a high and low of Rs 443.20 and Rs 440.10 respectively. So far 612 shares were traded on the counter.

The BSE group 'B' stock of face value Rs 10 has touched a 52 week high of Rs 472.00 on 18-Jul-2013 and a 52 week low of Rs 335.35 on 28-Aug-2012.

Last one week high and low of the scrip stood at Rs 449.00 and Rs 432.00 respectively. The current market cap of the company is Rs 1784.49 crore.

The promoters holding in the company stood at 51.04% while Institutions and Non-Institutions held 31.78% and 16.97% respectively.

Foreign Institutional Investors’ (FII) holding in Mahindra Lifespace Developers, the real estate and infrastructure development arm of the Mahindra Group, has reached 29.23% of the paid-up equity capital of the company as on August 16, 2013. 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.

The company’s shareholder’s resolution dated August 10, 2005 had 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 (RBI) 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.

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