Mahindra Lifespace Developers Ltd Board approves Rights Issue

At the meeting of the Board of Directors of Mahindra Lifespace Developers Ltd held October 27, 2016, the Board has approved raising of funds by way of issue of equity shares to the existing shareholders of the Company on a rights basis (Rights Issue) upto Rs.3000,000,000/- (Rupees Three Hundred Crore Only), subject to all applicable statutory and regulatory approvals. The Committee of Directors has been authorised to determine the terms and conditions of the Rights Issue including the rights entitlement ratio, the issue price, issue size, record date, timing of the issue and other matters which shall be decided in consultation with the Lead Manager(s) to the Rights Issue.

Shares of MAHINDRA LIFESPACE DEVELOPERS LTD. was last trading in BSE at Rs.424.25 as compared to the previous close of Rs. 425.65. The total number of shares traded during the day was 3633 in over 199 trades.

The stock hit an intraday high of Rs. 438.5 and intraday low of 422.2. The net turnover during the day was Rs. 1556564.

Source : Equity Bulls

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