First State Investment raises stake in Mahindra Lifespace

NEW DELHI: First State Investment Management (UK) has acquired 8.36 lakh shares in realty firm Mahindra Lifespace Developers through open market, increasing its stake in the company to over 7 per cent.

In a filing to the BSE, Mahindra Lifespace said that First State Investment Management (UK) Ltd and associates have acquired 8,36,082 shares through open market transactions between August 29, 2012 and June 28, 2013.

First State Investment Management's stake in Mahindra Lifespace has increased to 7.13 per cent from 5.09 per cent earlier.

Promoters have 51.04 per cent stake in the company as on March 31, 2013.