The Phoenix Mills Limited — Others, 14-08-2025: Shareholders meeting

Phoenix Mills seeks shareholder approval for a strategic move: the full exit of Canada Pension Plan Investment Board (CPP Investments) from its material subsidiary, Island Star Mall Developers Private Limited (ISMDPL). This will give Phoenix Mills 100% ownership of ISMDPL, consolidating its high-performing retail and office assets. CPP Investments will receive Rs 5,449.16 Cr over three years, primarily funded by ISMDPL's internal accruals and borrowings. This is expected to boost earnings, enhance cash flow control, and support future growth, strengthening the company's real estate presence. The ISMDPL retail portfolio generated Rs 617 Cr EBITDA in FY25.