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Phoenix Mills is acquiring the remaining 49% stake in its material subsidiary, Island Star Mall Developers (ISMDPL), from CPP Investments for Rs. 5449.16 Cr cash, payable over three years. This strategic move boosts Phoenix Mills' ownership to 100%, making ISMDPL a wholly-owned subsidiary. The goal is to consolidate high-performing retail assets like Phoenix MarketCity Bengaluru and Mall of Asia, strengthening its leadership in India's real estate market. This full control is expected to be financially accretive. As of March 2025, ISMDPL reported a consolidated turnover of Rs. 919.73 Cr and net worth of Rs. 3,960.21 Cr.