Acquisitions17 Apr 2025, 12:18 am
Phoenix Mills Subsidiary Acquires 45% Stake in O2 Renewable XXIX
AI Summary
The Phoenix Mills Ltd. has informed about the allotment of equity shares and compulsory convertible debentures to its subsidiary, Alyssum Developers Private Limited. Post the allotment, Alyssum holds a 45.00% equity shareholding in O2 Renewable XXIX. This development is in line with the Security Subscription and Shareholders’ Agreement between Alyssum, O2 Renewable XXIX, and O2 Energy SG PTE Limited for subscribing to equity shares and debentures for the purchase of renewable energy generated from the captive generating plant.
Key Highlights
- Phoenix Mills subsidiary, Alyssum Developers Private Limited, acquires 45.00% equity shareholding in O2 Renewable XXIX.
- Allotment of 3,82,760 equity shares and 34,450 compulsory convertible debentures to Alyssum by O2 Renewable XXIX.
- The acquisition is in accordance with the Security Subscription and Shareholders’ Agreement for purchasing renewable energy.
- The agreement is between Alyssum, O2 Renewable XXIX, and O2 Energy SG PTE Limited.
- The information has been disclosed under Regulation 30 of SEBI Listing Regulations and uploaded on the company's website.