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The board of Mahindra Lifespace Developers on Thursday approved raising funds to the tune of ₹300 crore by issuing shares to existing shareholders on rights basis. A committee of directors has been authorised to determine the terms and conditions of the rights issue, including the entitlement ratio, issue price, issue size, record date, timing of the issue and related matters. Shares of Mahindra Lifespace slumped 4 per cent at ₹422.7 on the NSE.
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