Phoenix Mills is currently trading at Rs 377.00, up by 25.90 points or 7.38% from its previous closing of Rs 351.10 on the BSE.
The scrip opened at Rs. 352.00 and has touched a high and low of Rs. 383.25 and Rs. 343.00 respectively. So far 1760 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 2 has touched a 52 week high of Rs. 445.00 on 08-Sep-2016 and a 52 week low of Rs. 238.30 on 29-Feb-2016.
Last one week high and low of the scrip stood at Rs. 398.00 and Rs. 342.50 respectively. The current market cap of the company is Rs. 5816.54 crore.
The promoters holding in the company stood at 62.86%, while Institutions and Non-Institutions held 33.31% and 3.83% respectively.
Phoenix Mills has entered into a Share Purchase Agreement (SPA) on December 6, 2016 for acquisition of the entire 20.01% shareholding of K2A Hospitality (K2A), an equity shareholder in Alliance Spaces (ASPL). The proposed acquisition by the company will be effected on the terms and conditions mutually agreed between the company and K2A and will be subject to fulfillment of certain conditions precedent and other independent conditionalities contained in the SPA.
Besides, the company’s subsidiary - Phoenix Hospitality Company has 57.99% equity shareholding in Alliance Spaces (ASPL) as on date. Hence, ASPL is an indirect subsidiary of the company as per Companies Act, 2013 and the company has an effective shareholding of 33.01% as on date.
Phoenix Mills is engaged in property development in India. Its activities include planning, execution, and marketing of projects, property rental and management, and maintenance and sale of the completed properties.
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