Actis, Mahindra Lifespace to Partially Exit Realty SPVMAHLIFE - 620 Change: 16.05 (2.66 %)
News: Actis and Mahindra Lifespace Developers are together making a partial exit worth over ₹120 crore from the latter’s subsidiary Mahindra Homes. Mahindra Lifespace Developers had incorporated the special purpose vehicle Mahindra Homes in June 2010 with an objective to develop residential projects in key markets across India.
Views: The said subsidiary company is generating steady cash flows and intends to continue its existing business operations. However, there are no immediate plans of expanding the business or initiating new ventures and therefore it has decided to repatriate surplus funds to shareholders.