Mahindra Lifespace Developers Limited has informed the Exchange that Board of Directors at its meeting held on May 19, 2025, has decided to issue equity shares on rights basis in the ratio of 3 : 8, i.e 3 Equity Shares for every 8 Equity Shares held. Issue Price is 257 per share.
MAHLIFE · price
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Mahindra Lifespace Developers' board has finalised terms for a Rights Issue of up to Rs. 1,496.28 crore. Existing shareholders will get 3 new equity shares for every 8 shares held, at an issue price of Rs. 257 per share (Rs. 10 face value + Rs. 247 premium). The total issue size is about 5.82 crore fully paid-up equity shares, assuming full subscription. The record date for eligibility is 23rd May 2025, with the issue opening on 2nd June 2025 and closing on 17th June 2025. Post-issue share count will rise from around 15.53 crore to 21.35 crore shares. The board has also approved the Letter of Offer.
This is a sizable capital raise that will dilute existing shareholders by roughly 37.5% if fully subscribed, but provides the company with growth funding. Shareholders as of the 23rd May record date can choose to subscribe, sell, or let their rights entitlements lapse.