Mahindra Lifespace Developers Ltd to raise Rs. 750 crores

Mahindra Lifespace Developers Ltd has an overall borrowing limit of Rs.1500 Crore approved by shareholders at the 12th Annual General Meeting held on July 21, 2011. As per MCA circular validity of said approval is upto March 31, 2015 and the said will therefore be re-confirmed by shareholders at the ensuing Annual General Meeting scheduled on August 07, 2014 in terms of the Companies Act, 2013.

Within the aforesaid borrowing limit of Rs.1500 crores, the Board of Directors of the Company at its meeting held on June 16, 2014, considered and recommended for the approval of the shareholders at the ensuing Annual General Meeting of the Company to be held on August 07, 2014, an amount not exceeding Rs.750 crores, towards Private Placement of Non-Convertible Debentures and/or other Debt Securities.

Shares of MAHINDRA LIFESPACE DEVELOPERS LTD. was last trading in BSE at Rs.558.5 as compared to the previous close of Rs. 570.9. The total number of shares traded during the day was 24205 in over 1803 trades.

The stock hit an intraday high of Rs. 575.95 and intraday low of 554.1. The net turnover during the day was Rs. 13633840.

Source : Equity Bulls

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