Mahindra & Mahindra Ltd (M&M) announced that its subsidiary Mahindra Lifespaces Developers Ltd (MLDL) has allotted over 5.81 crore fully paid-up equity shares as part of its recently concluded rights issue. The shares, each having a face value of Rs 10, were issued at Rs 257 apiece, including a premium of Rs 247 per share.
The aforesaid allotment was approved by the Rights Issue Committee of MLDL at its meeting held on June 18, 2025, it said in a regulatory filing.
M&M received 3,24,86,158 shares as part of this issuance. These shares will be credited to M&M’s demat account as per timelines laid out in SEBI’s circular dated March 11, 2025. “Out of the 5,81,53,156 fully paid-up equity shares of face value of Rs 10 each allotted by MLDL to the eligible shareholders and / or renouncee(s), M&M has been allotted 3,24,86,158 fully paid-up equity shares of face value of Rs 10 each,” M&M said in an exchange filing.
Following the allotment, the company’s shareholding in MLDL has increased from 7,93,19,550 to 11,18,05,708 fully paid-up equity shares (each with a face value of Rs 10). As a result, the company said, its ownership stake in MLDL has gone up from 51.14 per cent to 52.43 per cent.
Mahindra Lifespaces Developers is engaged in real estate development. Along with its subsidiary companies and joint ventures (JVs), MLDL is engaged in developing residential projects as well as industrial developments- integrated cities and industrial clusters.
For the financial year ended 31st March 2025, consolidated revenue from operations of MLDL stood at Rs 372.27 crore. The net worth of MLDL as on 31st March 2025 was Rs 1,896.10 crore.