Trilegal Advises Mahindra Lifespaces on ₹1,500 Crore Rights Issue
Mahindra Lifespaces, a prominent real estate developer in India, has successfully completed a rights issue of equity shares aggregating to ₹1,500 crore, with legal advice from Trilegal.
Real EstateRights IssueMahindra LifespacesTrilegalSebi Icdr NormsReal EstateJun 23, 2025
The Trilegal Capital Markets team, led by Richa Choudhary (Partner), provided comprehensive legal support for the rights issue. The team included Avanti Kale (Counsel), Maitreya Rajurkar (Counsel), and several senior associates and associates: Sanya Chaudhari, Aayush Khandelwal, Shivayana Balodia, Siddhant Mishra, Kartikeya Anshu, and Yatin Shikarpuri.
Approved by the board in May 2025, the rights issue offered shares at ₹257 each (face value ₹10 and premium ₹247) in a 3:8 ratio—three rights shares for every eight held as of the record date, May 23. Trading of rights entitlements (REs) was open from June 2 to June 12, with the issue closing on June 17.
The proceeds from the rights issue will primarily be used to repay ₹1,005 crore of debt, while the remaining funds will be allocated toward land acquisition and development. Shares under the rights issue were expected to be allotted and credited by June 19, with listing slated for June 20. This is among the first major rights issues executed under SEBI’s revised ICDR norms aimed at simplifying the fundraising process.
Mahindra Lifespaces is a pan-India real estate developer and a key part of the Mahindra group, one of India’s leading conglomerates. The company has a strong presence in various cities across the country and is known for its high-quality residential and commercial projects. The proceeds from the rights issue are expected to significantly enhance the company’s financial health and support its ambitious growth plans.
This rights issue is a testament to the robust financial strategy and strong market position of Mahindra Lifespaces. It also highlights the critical role of legal advisors like Trilegal in ensuring the smooth execution of such significant corporate actions.
Frequently Asked Questions
What is a rights issue?
A rights issue is a type of fundraising method where a company offers new shares to existing shareholders in proportion to their current holdings, usually at a discount to the market price.
How much is the rights issue by Mahindra Lifespaces?
Mahindra Lifespaces has completed a rights issue of equity shares aggregating to ₹1,500 crore.
What is the purpose of the funds raised from the rights issue?
The proceeds from the rights issue will primarily be used to repay ₹1,005 crore of debt, with the remainder allocated toward land acquisition and development.
Who advised Mahindra Lifespaces on this rights issue?
Trilegal advised Mahindra Lifespaces on the rights issue, with the team led by Richa Choudhary (Partner).
What are SEBI’s revised ICDR norms?
SEBI’s revised ICDR norms are aimed at simplifying the fundraising process for companies, making it easier and more efficient to execute rights issues and other capital market activities.
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