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 Rs. 257 per share.
MAHLIFE · price
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Mahindra Lifespace Developers' Board has approved a Rights Issue of up to Rs. 1,496.28 crore, with 3 equity shares offered for every 8 shares held at Rs. 257 per share. The issue price includes a premium of Rs. 247 over the face value of Rs. 10. A total of about 5.82 crore new shares will be issued, taking the total share count from 15.53 crore to 21.35 crore on full subscription. The record date is May 23, 2025, with the issue opening on June 2 and closing on June 17, 2025. Shareholders can subscribe, renounce, or sell their rights entitlements on the stock exchange.
Eligible shareholders as of May 23, 2025 will receive rights entitlements and can subscribe at Rs. 257 per share or trade the entitlements. Not subscribing or renouncing could lead to dilution of ownership, while full subscription will expand the share base by roughly 37%.