SEBI has provided its approval to the Mahindra Lifespace Developers for raising up to Rs 300 crore through rights issue.

As per the latest updates with Sebi, in January, the company had filed draft papers with Sebi for raising funds through rights issue and the regulator issued its ‘observation’ on March 2, which is necessary for any firm to launch public offer.

According to the draft papers, Mahindra group’s realty firm would be issuing “equity share for an amount up to Rs 300 crore on a rights basis to the eligible equity shareholders.”

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