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.
