Phoenix Mills has received an approval for raising of funds not exceeding Rs 1,100 crore, through issuance of Equity Shares, non-convertible debt instruments along with warrants and convertible securities other than warrants or Global Depositary Receipts (GDRs) or Foreign Currency Convertible Bonds (FCCBs), (Specified Securities), to eligible investors including Foreign Institutions, Corporate Bodies, Mutual Funds, Banks, Insurance Companies, Pension Funds or individuals, either through Qualified Institutions Placement (QIP) and/or on a Preferential basis and/or Private Placement and/or any other permissible mode(s), in one or more tranches. The Capital Raising Committee of the Board of Directors of the company at its meeting held on July 13, 2020, considered and approved the same.
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.
