The Phoenix Mills and Offbeat Developers Acquire Stake in O2 Renewable XXVIII Through Security Subscription
The Phoenix Mills Limited has finalized an amendment to a Security Subscription and Shareholders' Agreement with partners Offbeat Developers Private Limited, JSW Neo Energy Limited, and O2 Renewable Energy XXVIII Private Limited. This transaction involves the subscription of Equity Shares and Series B Compulsory Convertible Debentures in O2 Renewable XXVIII, securing captive user requirements for renewable energy generation.
On August 19, 2026, The Phoenix Mills Limited was allotted a total of 274,332 Equity Shares, each with a face value of Rs. 10/-. Additionally, the company received 24,690 Series B Compulsory Convertible Debentures, which have a face value of Rs. 1000/- each.
Simultaneously, Offbeat Developers Private Limited was allotted 302,568 Equity Shares, also valued at Rs. 10/- per share. The allotment to Offbeat included 27,231 Series B Compulsory Convertible Debentures, with a face value of Rs. 1000/- each.
The acquisition serves the captive user requirements related to the renewable energy (electricity) generated from the captive generating plant. Following these allotments, The Phoenix Mills Limited and Offbeat Developers Private Limited collectively hold a 45.00% equity shareholding in O2 Renewable XXVIII.
PHOENIXLTD Stock Price Movement
Shares of The Phoenix Mills Limited closed down today, shedding 1.08% to settle at ₹1919. The equity traded amidst a strong volume of 272,032 shares, having opened the session at ₹1950.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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