RBI ups FII investment limit in Mahindra Lifespace to 49%

Reserve Bank of India has increased foreign investment limit in Mahindra Lifespace Developers (erstwhile Mahindra Gesco Developers) to 49 percent from 30 percent.

August 25, 2013 / 14:06 IST

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Moneycontrol Bureau

Reserve Bank of India has increased foreign investment limit in Mahindra Lifespace Developers (erstwhile Mahindra Gesco Developers) to 49 percent from 30 percent.

The holdings of FIIs in the company has reached 29.23 percent of the paid up equity capital, according to filing on August 19.

Promoter Mahindra & Mahindra holds 51.04 percent stake in the company as of June 2013

The stock was down 0.2 percent to close at Rs 438.55 on Friday.

first published: Aug 24, 2013 04:12 pm

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