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

Phoenix Mills is acquiring 62,66,737 equity shares of Island Star Mall Developers Pvt Ltd (ISMDPL) from CPP Investments for ₹275.73 Cr. This transaction will increase Phoenix Mills' ownership in ISMDPL to 100%, making it a wholly-owned subsidiary.

This strategic move grants Phoenix Mills full control over ISMDPL's significant portfolio, which includes major retail and commercial assets like Phoenix MarketCity Bengaluru, Phoenix Mall of Millennium (Pune), Phoenix Mall of Asia (Bengaluru), and Phoenix Citadel (Indore). The acquisition is set to enhance operational efficiency and consolidate its leadership in prime real estate.