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The Phoenix Mills subsidiary Mindstone Mall Developers raises Rs 99.98 billion via rights issue
10-Aug-2026, 03:50
The Phoenix Mills Limited announced that its subsidiary, Mindstone Mall Developers Private Limited, has allotted 3,50,81,328 equity shares with a face value of Rs 10 each at a premium of Rs 18.50, for a total consideration of Rs 99,98,17,848, to existing shareholders on a rights basis. The Phoenix Mills Limited and CPP Investment Board Private Holdings (4) Inc. continue to hold 51% and 49% stakes, respectively, in Mindstone, with The Phoenix Mills Limited acquiring 1,78,91,477 shares for Rs 50,99,07,094.50.
The Phoenix Mills Limited announced that its subsidiary, Mindstone Mall Developers Private Limited, has allotted 3,50,81,328 equity shares with a face value of Rs 10 each at a premium of Rs 18.50, for a total consideration of Rs 99,98,17,848, to existing shareholders on a rights basis. The Phoenix Mills Limited and CPP Investment Board Private Holdings (4) Inc. continue to hold 51% and 49% stakes, respectively, in Mindstone, with The Phoenix Mills Limited acquiring 1,78,91,477 shares for Rs 50,99,07,094.50.