Trilegal acts on Mahindra Lifespaces ₹1,500 crore rights issue

Trilegal has advised Mahindra Lifespace Developers Limited on its rights issue of equity shares aggregating to ₹1,500 crore.

The Trilegal Capital Markets team advising on the matter was led by Richa Choudhary (Partner), with support from Avanti Kale (Counsel), Maitreya Rajurkar (Counsel), Senior Associates - Sanya Chaudhari, Aayush Khandelwal and Shivayana Balodia; and Associates - Siddhant Mishra, Kartikeya Anshu, and Yatin Shikarpuri.

Approved by the board in May 2025, the issue offers 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 will primarily be used to repay ₹1,005 crore of debt, while the remainder will go 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 Lifespace is a pan-India real estate developer and part of the Mahindra group, one of India’s leading conglomerates. The proceeds of the issue are proposed to be used to repay loans.

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