Phoenix Mills Merger & Restructuring
The Phoenix Mills Limited announced the amalgamation of its subsidiary, Truevalue Infrabuild Private Limited, into another subsidiary, SGH Realty Private Limited, to simplify the business structure.
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The Phoenix Mills Limited announced the amalgamation of its subsidiary, Truevalue Infrabuild Private Limited, into another subsidiary, SGH Realty Private Limited, to simplify the business structure.
NCLT Chennai has sanctioned the scheme of merger and amalgamation involving several step-down subsidiaries of The Phoenix Mills Limited into Astrea Real Estate Developers Private Limited.
The Phoenix Mills Limited's subsidiary, Mindstone Mall Developers, allotted 3,50,81,328 equity shares on a rights basis. The company invested Rs. 50.99 Crore to maintain its 51% stake.
The Phoenix Mills and its subsidiary Offbeat are acquiring equity and debentures in O2 Renewable Energy XXVIII for solar power captive use. Total consideration is ₹5.76 Crore.