Board of Mahindra Lifespace Developers approves rights issue of Rs 1,500 cr

The Board of Mahindra Lifespace Developers at its meeting held on 13 February 2025 has approved fund raising by way of offer and issuance of fully paid-up equity shares of the Company of face value of Rs 10/- each for an amount not exceeding Rs. 1,500 crore by way of a rights issue to the eligible equity shareholders of the Company. The proceeds will be utilized to pare down the company's existing debt and support its future growth plans.