Mahindra Lifespace Developers Limited (MLDL) has announced a significant investment of ₹126 crore in Mahindra Industrial Park Chennai Limited (MIPCL), a subsidiary of Mahindra World City Developers Limited (MWCDL). This investment is part of a rights issue to expand the existing industrial park in Tamil Nadu under the “Origins by Mahindra World City” brand.
The rights issue will involve the acquisition of 12.6 crore equity shares at ₹10 per share. Following the investment, MWCDL’s shareholding in MIPCL will remain unchanged at 60%. The industrial park, a joint venture between MWCDL and Japan’s Sumitomo Corporation, focuses on creating a world-class industrial cluster in the NH-16 corridor near Chennai.
MIPCL reported a turnover of ₹92.40 crore for FY 2023-24 and has an authorized share capital of ₹395 crore. The project is expected to drive regional economic growth and provide a platform for advanced infrastructure and business support systems.
This expansion aligns with Mahindra Lifespace’s commitment to sustainable industrial development, contributing to India’s manufacturing and industrial growth.
Disclaimer: This information is for informational purposes only and should not be considered financial or investment advice. Always conduct your own research or consult a financial advisor before making investment decisions.
