Mahindra Lifespace Developers allots bonus equity shares of 10.28cr

The company also announced that it has appointed Jitesh Donga as Chief of Design.

Sep 17, 2021 10:09 IST India Infoline News Service

Committee of the Board of Directors of Mahindra Lifespace Developers Limited has allotted 10,27,87,676 equity shares of Rs10/- each fully paid up Bonus Equity Shares in the ratio of 2:1, i.e. 2 Bonus Equity Share of Rs.10/- each for 1 (One) fully paid-up Equity Shares of Rs10/- each held by the eligible Members.

Consequent to the above, the issued and paid-up share capital of the Company has increased as per following:

Before Allotment:
  • Issued Capital: 5,14,44,901 Equity Shares of Rs10 each
  • Paid up Capital: 5,13,93,838 Equity Shares of Rs10 each
After Allotment:
  • Issued Capital: 15,43,34,703 Equity Shares of Rs10 each
  • Paid up Capital: 15,41,81,514 Equity Shares of Rs10 each

Meanwhile, Mahindra Lifespace Developers Ltd., the real estate and infrastructure development arm of Mahindra Group, also announced that it has appointed Jitesh Donga as Chief of Design.

Jitesh will lead Design conceptualisation and execution for Mahindra Lifespaces’ projects across India, comprising residential developments, integrated cities and industrial parks.

“He will be responsible for implementing strategic initiatives across all aspects of Design, including master planning, architecture, landscape and interior design, to deliver distinctive products that meet changing consumer needs, and are environment-friendly, resilient and adaptive,” company said.

Commenting on the appointment, Arvind Subramanian, MD & CEO, Mahindra Lifespace Developers Ltd., said, “We are delighted to welcome Jitesh to our leadership team. Jitesh’s extensive experience in residential, commercial and industrial projects will be in invaluable to Mahindra Lifespaces as we pursue our growth ambitions fuelled by smartly-designed, future-ready residential communities and industrial spaces that reimagine how our customers engage with their built environments.”

Jitesh Donga added, “I am excited to join Mahindra Lifespaces, one of India’s most trusted real estate companies that is redefining the fundamental approach to the design and development of real estate products in the country. I look forward to working with a committed team to deliver on the Company’s vision and growth plans.”

At around 10.14 am, Mahindra Lifespace Developers Ltd was trading at Rs274.60 per piece down by Rs0.05 or 0.02% from its previous closing of Rs274.65 per piece on the BSE.

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