Mahindra Lifespace Developers Limited has informed the Exchange about Letter of Offer dated May 19, 2025, for Rights Issue of equity shares
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Mahindra Lifespace Developers has issued the Letter of Offer for its Rights Issue approved on May 19, 2025. The company plans to raise up to ₹1,496.28 crore by issuing up to 5.82 crore fully paid-up equity shares at ₹257 per share (including a premium of ₹247 over the ₹10 face value). Eligible shareholders can subscribe in the ratio of 3 rights shares for every 8 shares held on the record date of May 23, 2025. The issue opens on June 2, 2025 and closes on June 17, 2025, with listing expected on June 20, 2025. Promoter Mahindra and Mahindra Limited is backing the company. The Letter of Offer has been filed with SEBI and is available on the company's website.
Eligible shareholders must decide whether to subscribe to the rights shares or let them lapse, which would lead to dilution of their stake. The stock may see some activity or pressure around the record date (May 23) and during the issue window (June 2–17). Existing investors will need to invest roughly ₹96.4 per share held to fully subscribe to their entitlement.