Mahindra Lifespace Developers Limited has announced the Monitoring Agency Report for the quarter ended December 31, 2025, related to its Rights Issue. The report, issued by CARE Ratings Limited, confirms that the proceeds from the Rights Issue have been fully utilized for the objects mentioned in the offer document. The total issue size was Rs. 1496.28 crore.
Rights Issue Fund Utilization
Mahindra Lifespace Developers Limited confirms the full utilization of funds raised through its Rights Issue of equity shares, as outlined in the Letter of Offer dated May 19, 2025. The monitoring agency, CARE Ratings Limited, has issued a report stating that the proceeds have been appropriately utilized for the intended purposes. The Rights Issue had a total size of Rs. 1496.28 crore.
Key Highlights from the Monitoring Report
As of December 31, 2025, the monitoring report indicates the following:
- The proceeds of the issue are utilized towards stated objects.
- The entire proceeds raised/received under the Rights Issue stand utilized.
Utilization Details
The funds were allocated as follows:
- Repayment and/or prepayment of borrowings: Rs. 1005.00 crore
- Funding acquisitions of unidentified future real estate projects: Rs. 487.82 crore
- Issue related Expenses: Rs. 3.46 crore
The company utilized an additional amount of Rs. 6.54 crore towards General Corporate Purpose (GCP) instead of issue expenses. As of December 31, 2025, all funds allocated to GCP have been utilized.
General Corporate Purpose (GCP)
The Rs. 19.52 crore allocated to GCP was used for:
- Projects related expenditure incurred in the ordinary course of business: Rs. 8.74 crore
- Other general administrative expenses: Rs. 10.78 crore
Source: BSE
