The Phoenix Mills Limited — Important, 29-11-2024: Sale or disposal

The Phoenix Mills Limited has executed a Share Purchase Agreement for the sale of its 100% equity shares in Janus Logistics and Industrial Parks Private Limited to Macrotech Developers Limited. This transaction, completed for a consideration of approximately ₹47.94 crore, results in Janus no longer being a direct subsidiary of Phoenix. In the most recent financial year, Janus did not contribute any revenue and had a negative net worth of ₹17.52 lakh. While the buyer is not part of the company's promoter group, this divestiture signifies a strategic shift within Phoenix's portfolio, which investors should monitor for its implications on future business direction and financials.