Acquisitions9 Feb 2026, 09:47 pm
Mahindra Lifespace Developers Ltd. Board Approves Proposed Acquisition of Alembic Undertaking for Rs. 100 crores
AI Summary
Mahindra Lifespace Developers Ltd. announced that its Board of Directors has approved the proposed acquisition of 'Alembic Undertaking', a residential real estate development project in Bengaluru, on a slump sale basis for a net amount not exceeding Rs. 100 crores. The acquisition is subject to necessary approvals, customary condition precedents, and in accordance with the proposed Transaction Documents. The Board meeting concluded at 4:15 PM on February 9, 2026.
Key Highlights
- The proposed acquisition of Alembic Undertaking, a residential real estate development project in Bengaluru, for a net amount not exceeding Rs. 100 crores.
- The acquisition is subject to necessary approvals, customary condition precedents, and in accordance with the proposed Transaction Documents.
- Mahindra Blossom Developers Limited (MBLDL), a subsidiary of the Company, will undertake the project.
- Mitsui Fudosan (Asia) Pte. Limited (MFA) will subscribe to the rights issue of equity shares of MBLDL in the ratio of 49:51, respectively.
- The transaction is a related party transaction, done at arm's length, and is outside Scheme of Arrangement.