Phoenix Mills has acquired the 1.81% equity stake of Hasel River on September 4, 2017 in Classic Mall Development Company (CMDCPL). Subsequent to this acquisition, the shareholding of the company in CMDCPL has increased from 48.19% to 50%.
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.