Phoenix Mills Limited Participates in Rights Issue of Subsidiary Mindstone Mall Developers
Mindstone Mall Developers Private Limited, a subsidiary of The Phoenix Mills Limited, successfully completed an equity share allotment to existing shareholders on a rights basis. This strategic event involved the issuance of 3,50,81,328 equity shares to existing stakeholders at a premium.The subscription for the equity shares was made by The Phoenix Mills and CPP Investment Private Holdings (4) Inc. As a result of the transaction, there is no change in the shareholding structure within Mindstone; The Phoenix maintains a 51% stake while CPP Investment holds the remaining 49%.
Details concerning the investment include:
- The shares were allotted at a face value of Rs. 10/- each and at a premium of Rs. 18.50/-.
- The total aggregate consideration for the rights issue was Rs. 99,98,17,848/-.
Specifically regarding The Phoenix Mills Limited's investment in Mindstone, the company was allotted 1,78,91,477 equity shares. The allotment occurred on August 10, 2026, with the company investing a total of Rs. 50,99,07,094.50/- at a price point of Rs. 28.50/ per fully paid up equity share.
Mindstone Mall Developers Private Limited, which was incorporated on June 18, 2018, operates in the Real Estate Development sector and is engaged in the operation, management, and leasing of malls. The company reported a Net Worth of 568.14 Crores as of the most recent data available.
Financial overview of Mindstone across several financial years:
| Metric | FY-23-24 | FY-24-25 | FY-25-26 |
|---|---|---|---|
| Net Worth | 57.19 Crores | 568.47 Crores | 568.14 Crores |
| Turnover | Nil | Nil | Nil |
| PAT | -1.23 | -3.38 | -0.35 |
PHOENIXLTD Stock Price Movement
Today, The Phoenix Mills Limited shares rallied 1.97% in post-market trading, closing at ₹1932.90 after a strong session. The stock saw a total traded volume of 403,800 shares today.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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