The Phoenix Mills Limited — JV/Acquisition, 10-08-2026: Acquisition

Phoenix Mills strengthened its real estate development arm by investing Rs 50.99 Cr in its subsidiary, Mindstone Mall Developers, through a rights issue. Mindstone, a company focused on mall operations and leasing, secured a total of Rs 99.98 Cr in this funding round. This capital infusion supports Mindstone's ongoing projects and reinforces Phoenix Mills' strategic position in the real estate sector. Phoenix Mills retains its 51% controlling stake in Mindstone post-investment.