Mahindra Lifespace eyeing shareholders' nod through a postal ballot to raise debt limit

21 Jun 2011 Evaluate

Mahindra Lifespace Developers is looking for shareholders' approval to increase its borrowing limit up to Rs 1,500 crore. The company has proposed for the approval of shareholders at the 12th Annual General Meeting, an enabling resolution for increase in its borrowing limits up to Rs 1,500 crore with or without security.

The company is looking to increase the borrowing limit in its quest for expanding its business operations and maximising the returns for its shareholders. The company is also examining various options and alternatives to fulfill its ambitious growth plans and it may have to leverage its resources and assets to obtain maximum benefits and raise funds to meet its long term strategic plans.

The company may consider raising funds at competitive rates to expand its businesses such as developing residential properties and integrated townships among others. The company has sought shareholders' nod through a postal ballot to increase the borrowing limit.

Mahindra Lifespace Developers (MLDL) is the real estate and infrastructure development subsidiary of Mahindra & Mahindra (M&M). At present, M&M holds 51% of the equity share capital of MLDL. MLDL has two main lines of businesses - standalone real estate development and development of integrated business cities.

Mahindra Life. Dev Share Price

472.50 4.90 (1.05%)
20-Dec-2024 16:59 View Price Chart
Peers
Company Name CMP
Dilip Buildcon 469.30
Macrotech Developers 1400.75
NBCC (India) 94.44
Phoenix Mills 1591.75
Ahluwalia Contract(I 1042.70
View more..
© 2024 The Alchemists Ark Pvt. Ltd. All rights reserved. MoneyWorks4Me ® is a registered trademark of The Alchemists Ark Pvt. Ltd.