Mahindra Lifespaces to fully acquire Mahindra Homes subsidiary for up to INR 90 crore

Mahindra Lifespace Developers Limited (MLDL) announced today that its board of directors has approved the acquisition of the entire stake held by Actis Mahi Holdings Singapore Private Limited ("Actis") in Mahindra Homes Private Limited ("MHPL"). This transaction, subject to shareholder approval, will transform MHPL into a wholly-owned subsidiary of MLDL.

The acquisition involves cash consideration for 205,628 Series A equity shares, 11,043 Series B equity shares, and 1 - 0.01% compulsory convertible preference shares, totaling a consideration not exceeding INR 90 crore.

MHPL, incorporated on June 2, 2010, is a real estate company engaged in residential project development. Previously a joint venture between MLDL (74.35%) and Actis (25.65%), MHPL reported nil turnover for FY24-25, INR 6.56 crore for FY23-24, and INR 8.81 crore for FY22-23.

The transaction is classified as a related party transaction and will be conducted on an arm's length basis, with completion estimated within three months from the share purchase agreement execution date, pending necessary approvals.