Private Equity

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Actis, Mahindra Lifespace to make partial exit worth Rs.120-Cr from Mahindra Homes

Economic Times  

UK-based PE investor Actis and Mahindra Group's real estate and infrastructure development arm Mahindra Lifespace Developers are together making a partial exit worth over INR 120 crore from the latter's subsidiary Mahindra Homes. The developer has approached the National Company Law Tribunal (NCLT) with an application to reduce its equity share capital and provide exit to both the entities. Mahindra Homes claims to be 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.