28-Oct-2026 17:22:17
PHOENIXLTDGeneral news
PHOENIX MILLS : ISMDPL CAPITAL REDUCTION WORTH RS 1,350 CR, STAKE RISES TO 68.10%
• NCLT Mumbai Bench approved selective capital reduction of Island Star Mall Developers (ISMDPL) via order dated October 27, 2026 • 3,25,69,360 equity shares of ₹10 each held by CPP Investments to be cancelled and extinguished • ISMDPL to pay aggregate cash consideration of ₹1,350 Cr to CPP Investments • Phoenix Mills stake in ISMDPL rises from 58.33% to 68.10%; CPP Investments' holding falls from 41.67% to 31.90% • On completion of the full proposed transaction, Phoenix Mills will hold 100% of ISMDPL, making it a wholly owned subsidiary • ISMDPL runs Phoenix MarketCity Bengaluru with FY26 standalone turnover of ₹285.05 Cr and net worth of ~₹2,791 Cr
The Phoenix Mills Limited
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