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Phoenix Mills rises on entering into SPA to acquire shares of ODPL

22 May 2017 Evaluate

Phoenix Mills is currently trading at Rs. 415.50, up by 13.90 points or 3.46% from its previous closing of Rs. 401.60 on the BSE.

The scrip opened at Rs. 410.00 and has touched a high and low of Rs. 415.50 and Rs. 410.00 respectively.

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. 285.05 on 15-Nov-2016.

Last one week high and low of the scrip stood at Rs. 426.45 and Rs. 398.95 respectively. The current market cap of the company is Rs. 6,359.93 crore.

The promoters holding in the company stood at 62.86%, while Institutions and Non-Institutions held 33.16% and 3.99% respectively.

Phoenix Mills has entered into a Share Purchase Agreement (SPA) for the acquisition of the entire 5.36% equity shareholding of HBS Realtors (HBS) in Offbeat Developers (ODPL). The proposed acquisition by the company will be effected on the terms and conditions contained in the SPA.

Further, the company has entered into SPA to acquire entire equity shareholding of IIRF Holdings X (IIRF), Vistra ITCL (India) (Vistra) and Eder River (Eder River), representing a cumulative stake of 11.05% in ODPL.

Subsequent to the completion of all the aforesaid transactions with HBS, IIRF, Vistra and Eder River, the shareholding of the company in ODPL will increase from 83.59% to 100% and ODPL will become a wholly owned subsidiary of the company.

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.

 


Phoenix Mills Share Price

1763.00 56.15 (3.29%)
10-Apr-2026 16:59 View Price Chart
Peers
Company Name CMP
Lodha Developers 827.75
Dilip Buildcon 434.80
DLF 569.60
Oberoi Realty 1671.50
Ahluwalia Contract(I 782.75
View more..

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