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Mahindra Lifespace Developers informs about company updates
04:51 PM 20-Mar-2017
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Industry: Real Estate Company Mahindra Lifespace Developers Ltd

Mahindra Lifespace Developers has informed that the Rights Issue Committee meeting held on 20th March, 2017 has approved the following with respect to the issue - BSE has been approved as the Designated Stock Exchange for the Issue; Issue of up to 10,273,600 equity shares with a face value of Rs 10 each for cash at a price of Rs 292 per equity share including a premium of Rs 282 per equity share (Rights Equity Shares) for an amount up to Rs 2,999.89 million on a rights basis to the eligible equity shareholders of the Company in the ratio of 1:4, that is, 1 Rights Equity Share for every 4 fully paid-up equity shares of the Company held by existing equity shareholders as on the Record Date; Friday, 31st March, 2017 has been fixed as the Record Date for determining the shareholders eligible to apply for the Rights Equity Shares in the Issue; and approved the appointment of intermediaries to the Issue. 

The above information is a part of company’s filings submitted to BSE.