The Phoenix Mills Limited — JV/Acquisition, 19-08-2026: Acquisition

Phoenix Mills, through its subsidiary, has secured a 45.00% equity stake in O2 Renewable XXVIII Private Limited with an investment of Rs 5.77 Cr. This strategic move, involving the subscription of equity shares and compulsory convertible debentures, aims to meet the company's captive user requirements for renewable energy. This backward integration ensures a stable, green electricity supply for Phoenix Mills' operations, bolstering its sustainability initiatives and providing a long-term operational advantage.