Mahindra Lifespace Developers has informed the exchanges that foreign institutional investors’ limit in the company has reached 28.02 per cent on February 22, 2013.
According to RBI, FIIs can invest up to 30 per cent in the company.
The stock is trading at Rs 409.75, down 0.89 per cent on the BSE around noon on Tuesday.
“The purpose of this communication is to inform all concerned the status of FIIs holding in the company vis-a-vis the limits notified as above, of which due not may please be taken,’’ the company informed the exchanges.