Mahindra Lifespace Developers Ltd Board recommends Bonus Issue

The Board of Directors of Mahindra Lifespace Developers Ltd, subject to approval of the Shareholders, has recommended increase in authorised share capital from Rs. 121 crore to Rs. 300 crore and consequential amendment to authorised share capital clause in the Memorandum of Association.

The board has recommended the Bonus Issue of Equity Shares in the ratio of 2 (Two) fully paid-up Equity Share of Rs. 10 each for every 1 (One)fully paid-up Equity Shares of Rs. 10 each held by the shareholders of the Company as on the record date, subject to the approval of shareholders through Postal Ballot. The Company will inform in due course, the "Record Date" for determining entitlement of the shareholders to receive Bonus Shares.

Shares of MAHINDRA LIFESPACE DEVELOPERS LTD. was last trading in BSE at Rs. 768.85 as compared to the previous close of Rs. 741.9. The total number of shares traded during the day was 57548 in over 4065 trades.

The stock hit an intraday high of Rs. 796.9 and intraday low of 710. The net turnover during the day was Rs. 43961507.

Source : Equity Bulls

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