Mahindra Lifespace Acquires MBDL From Its Joint Venture Partner
Mahindra Lifespace Developers Limited has acquired 15,000 equity shares of Mahindra Bebanco Developers Limited from the joint venture partner, B. E. Billimoria & Co Limited representing 30% of the total share capital of MBDL. The balance 35,000 equity shares representing 70% of the total share capital of MBDL is already held by the Company.
Consequent to the acquisition of 15,000 equity shares as aforesaid, MBDL has ceased to be a joint venture cum partially owned subsidiary and has become a wholly owned subsidiary of the Company effective 28th May 2018. It continues to be a subsidiary of the ultimate holding company, Mahindra and Mahindra Limited.