NCLT Mumbai approved Island Star Mall Developers' Rs 1,350 Crore buyback of CPP Investments' shares. Phoenix Mills' stake in the subsidiary rises from 58.33% to 68.10%.
Value
₹1,350 Cr
Execution
Consideration to be paid within 30 days of filing the certified NCLT order with the Registrar of Companies
The Phoenix Mills Limited received NCLT approval for the merger of several step-down subsidiaries into its subsidiary, Astrea Real Estate Developers Private Limited.
The Phoenix Mills and its subsidiary Offbeat Developers have completed their subscription to equity shares and debentures in O2 Renewable Energy XXVIII.