MoneyWorks4Me

Phoenix Mills’ arm acquires entire shareholding in Gangetic Hotels

16 Feb 2017 Evaluate

Phoenix Mills’ wholly owned subsidiary -- Palladium Constructions (PCPL) -- has acquired the entire equity shareholding of Leine River and Fuhse River in Gangetic Hotels (GHPL), a subsidiary of the company, aggregating to 39.15% on February 15, 2017.

Subsequent to the foresaid acquisition by PCPL, the effective equity shareholding of the company in GHPL has increased from 42.98% to 74.11%.

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.

Peers
Company Name CMP
Lodha Developers 1064.00
Prestige EstatesProj 1412.65
Dilip Buildcon 395.05
DLF 646.50
Oberoi Realty 1697.70
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