Buyback12 Nov 2025, 11:44 am
Phoenix Mills Increases Shareholding in Island Star Mall Developers to 55.57%
AI Summary
The Phoenix Mills Ltd. has announced that Island Star Mall Developers Private Limited (ISMDPL), a material subsidiary of the company, has completed a buyback of 2,03,40,909 equity shares from Canada Pension Plan Investment Board (CPP Investments). This buyback has resulted in the company's shareholding in ISMDPL increasing from 51% to 55.57%. ISMDPL is engaged in the operation, management, and leasing of malls and has three subsidiaries involved in various business activities. The buyback is part of the Proposed Transaction, which aims to provide a full exit to CPP Investments from its 49% equity investment in ISMDPL.
Key Highlights
- Phoenix Mills' shareholding in ISMDPL increases to 55.57%
- ISMDPL completes buyback of 2,03,40,909 equity shares from CPP Investments
- Transaction amount is Rs. 895,00,00,000 (Rupees Eight Hundred and Ninety Five Crore only)
- ISMDPL is engaged in operation, management, and leasing of malls
- ISMDPL has three subsidiaries involved in various business activities