M&M Ups Stake In Mahindra Lifespace To 52.43% Via Rights Issue

Mahindra & Mahindra Ltd. has raised its stake in Mahindra Lifespace Developers Ltd. to 52.43% from 51.14% after subscribing to shares under the latter's rights issue, the company said in an exchange filing.

Following the allotment, M&M now holds 111.8 million shares in the real estate arm, up from 79.3 million earlier. The shares were acquired for cash at ₹257 apiece, with a face value of ₹10 each.

Mahindra Lifespace, the listed real estate arm of M&M, is active in both residential and industrial development across India. Its residential portfolio spans 39.44 million square feet of completed, ongoing, and planned projects across seven cities. On the industrial front, it manages over 5,000 acres across four cities.

For 2024-25, the company posted consolidated revenue of ₹3.72 billion.