The Phoenix Mills Limited — JV/Acquisition, 05-11-2025: Acquisition

Phoenix Mills, with subsidiary Offbeat, is investing ₹5.93 Cr to acquire up to a 45% stake in O2 Renewable Energy XXVIII. This strategic move aims to secure renewable solar power for its captive use. By subscribing to equity and convertible debentures in O2 Renewable XXVIII, Phoenix Mills will consume solar energy directly from the newly formed solar project. This aligns with a backward integration strategy to meet energy requirements sustainably and potentially optimize operational costs.