The Phoenix Mills Limited — JV/Acquisition, 12-11-2025: Acquisition

Phoenix Mills has increased its stake in its material subsidiary, Island Star Mall Developers (ISMDPL). ISMDPL completed a buyback of shares from CPP Investments for Rs 895 Cr. As Phoenix Mills did not participate in the buyback, its ownership in ISMDPL rose from 51% to 55.57%. This move is part of a strategic plan for Phoenix Mills to eventually achieve 100% ownership and full control of ISMDPL, making it a wholly-owned subsidiary. ISMDPL operates key mall assets like Phoenix MarketCity Bengaluru and Phoenix Mall of Millennium (Pune), consolidating Phoenix Mills' hold on its prime retail real estate portfolio.