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Foreign institutional investor (FII) holding in Mumbai-based real estate developer Mahindra Lifespace Developers has neared its threshold limit of 30%.
The company, through a stock exchange notice, said today that the holdings of FIIs has reached 28.21% of the paid up capital. FII shareholding in the company at the end of the December quarter stood at 27.63%.
The Reserve Bank of India has allowed FIIs to purchase, under portfolio investment scheme (PIS), equity shares of Mahindra Lifespace through primary market and stock exchanges in India up to 30% of its paid up equity capital.
Shares of the company were last trading at Rs 392.65, up Rs 14.65, or 3.88% at 11.45 am on BSE.
