The Board of Directors of Mahindra Lifespace Developers Limited ('Board'), has inter-alia superseded the Right issue approval granted on 13th February 2025 and via a fresh resolution approved fund raise by way of offer and issuance of fully paid-up equity shares of the Company for an amount not exceeding Rs. 1500 Crore; to pursue the proposed Right Issue under SEBI (ICDR) (Amendment) Regulations, 2025 dated 3rd March 2025 ( 'new simplified regulations') which have considerably simplified the Rights issue process thereby making it time, process and cost efficient. This is to clarify that the resolution approved today by the Board is not for any additional offer and issuance of Equity Shares but only a fresh approval for the same matter which was announced on 13th February 2025.

The Board of Mahindra Lifespace Developers has approved a fresh resolution for a Rights Issue of up to Rs. 1,500 Crore, superseding the earlier approval granted on 13th February 2025. The issue size remains unchanged; the re-approval is to pursue the Rights Issue under the new simplified SEBI (ICDR) Amendment Regulations dated 3rd March 2025, which make the process faster and cheaper. The proceeds will primarily be used to pay down existing debt and support future growth plans. The company highlighted strong business momentum, with FY25 Gross Development Value (GDV) additions of Rs. 18,100 Crore versus Rs. 4,400 Crore in FY24, while maintaining a healthy Net Debt to Equity ratio of 0.39x as of March 2025. The record date, issue price, and entitlement ratio are yet to be decided.