STOCKWATCH

Phoenix Mills Subsidiary Acquires 45% Stake in O2 Renewable XXX

The Phoenix Mills Ltd. announced that its subsidiary, Pallazzio Hotels & Leisure Limited, has acquired 45.00% equity shareholding in O2 Renewable XXX. This acquisition was made through the allotment of 4,73,000 Equity Shares and 42,570 Series B Compulsory Convertible Debentures. This development is in line with the Security Subscription and Shareholders’ Agreement executed between Pallazzio, JSW Neo Energy Limited, and O2 Renewable XXX. The agreement was for subscribing to equity shares and compulsory convertible debentures for the purchase of renewable energy generated from the captive generating plant.

• Phoenix Mills' subsidiary, Pallazzio Hotels & Leisure Limited, acquires 45.00% equity shareholding in O2 Renewable XXX.
• The acquisition was made through the allotment of 4,73,000 Equity Shares and 42,570 Series B Compulsory Convertible Debentures.
• The Security Subscription and Shareholders’ Agreement was executed between Pallazzio, JSW Neo Energy Limited, and O2 Renewable XXX.
• The agreement was for subscribing to equity shares and compulsory convertible debentures for the purchase of renewable energy generated from the captive generating plant.
• This development is a significant move in the renewable energy sector.