Phoenix Mills has entered into a Share Purchase Agreement (SPA) with HBS Realtors (HBS) and Graceworks Realty & Leisure (GRLPL) on December 29, 2017 for acquisition of entire 22.67% shareholding of HBS in GRLPL, a subsidiary of the company.
Pursuant to the said SPA, the company has acquired entire 22.67% equity shareholding of HBS on December 29, 2017.
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.