Acquisitions9 Feb 2026, 09:47 pm
Mahindra Lifespace Developers Ltd. Approves Acquisition of Alembic Undertaking for up to Rs. 100 crores
AI Summary
Mahindra Lifespace Developers Ltd. has received board approval for the proposed acquisition of the Alembic Undertaking, a residential real estate development project in Bengaluru, for a maximum consideration of Rs. 100 crores. The transaction involves the transfer of the undertaking to Mahindra Blossom Developers Limited (MBLDL), a subsidiary of the Company, on a slump sale basis. The Board has also approved the execution of necessary agreements and the transfer of a 49% equity stake in MBLDL to Mitsui Fudosan (Asia) Pte. Limited. The transaction is subject to necessary approvals, customary condition precedents, and compliance with applicable laws.
Key Highlights
- Acquisition of Alembic Undertaking, a residential real estate development project in Bengaluru, for up to Rs. 100 crores
- Transfer of undertaking to Mahindra Blossom Developers Limited (MBLDL), a subsidiary of the Company, on a slump sale basis
- Execution of necessary agreements and the transfer of a 49% equity stake in MBLDL to Mitsui Fudosan (Asia) Pte. Limited
- Subject to necessary approvals, customary condition precedents, and compliance with applicable laws
- The Alembic Undertaking did not contribute to the turnover or revenue or income or net worth of the Company during the last financial year