Mahindra Lifespace to raise up to Rs 1,500 cr via rights issue to cut debt, aid growth
Real estate company Mahindra Lifespace Developers plans to raise up to Rs 1,500 crore through issue of shares to eligible shareholders for reducing its debt as well as funding further growth. The board of Mahindra Lifespaces Developers Ltd has approved the fund raise of up to Rs 1,500 crore through rights issue to the eligible shareholders of the company.
The proceeds will be utilised to pare down the company's existing debt and support its future growth plans, according to a regulatory filing on February 13.
Mahindra Lifespace is the real estate and infrastructure development business of the Mahindra Group.
Recently, Mahindra Lifespace reported a consolidated net loss of Rs 22.47 crore for the quarter ended December 2024.
The company had posted a net profit of Rs 50.02 crore in the year-ago period.
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