/ Mahindra Lifespace’s Rights Issue Of Rs 300 Crore To Open Today ~ Ways2Capital|Stock Tips|Stock Market Tips|Intraday Stock Tips|Stock Trading Tips|NSE BSE Tips

Wednesday, 12 April 2017

Realty company, Mahindra Lifespace Developers' Rs 300 crore rights issue programme is going to open Today. As per the official statement issued by the company, the issue will close on April 26. A total of Rs 299.98 crore is proposed to be raised through issue of shares to eligible equity shareholders of the company in the ratio of 1:4, i.e. one rights equity share for every four fully paid-up equity shares held).

The company is planning to issue 10,273,600 equity shares of face value Rs 10 each at a price of Rs 292 per equity share, including a premium of Rs 282 per share. The issue price of each rights equity share is 29.20 times the face value of the equity share. The company will use these funds obtained through the issue for the redemption of non-convertible debentures. 

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