Phoenix Mills is currently trading at Rs. 794.25, up by 4.10 points or 0.52% from its previous closing of Rs. 790.15 on the BSE.
The scrip opened at Rs. 795.00 and has touched a high and low of Rs. 814.65 and Rs. 793.45 respectively. So far 3976 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 888.95 on 03-Feb-2021 and a 52 week low of Rs. 542.65 on 24-Sep-2020.
Last one week high and low of the scrip stood at Rs. 818.80 and Rs. 756.45 respectively. The current market cap of the company is Rs. 13581.98 crore.
The promoters holding in the company stood at 45.51%, while Institutions and Non-Institutions held 50.84% and 3.65% respectively.
Phoenix Mills (PML) and GIC, Singapore’s sovereign wealth fund, have executed definitive documents to form a strategic investment platform, to develop, own and operate retail?led, mixed?use developments in India. Earlier in December 2020, PML had announced signing of a non?binding term sheet with GIC for formation of this retail?led, mixed?use platform.
PML through its subsidiaries, Offbeat Developers (ODPL), Graceworks Realty & Leisure (GRLPL) and Vamona Developers (VDPL) and GIC will be parties to the transaction (hereinafter, ODPL, GRLPL and VDPL together referred to as PML Subsidiaries). PML will contribute the following retail and commercial assets to the platform. GIC will initially acquire an equity stake of 26.4% in the PML Subsidiaries by investing an aggregate amount of approximately Rs 11,110 million by way of a combination of primary infusion and secondary purchase of equity shares in the said PML Subsidiaries. The platform is valued at a pre?money enterprise value of Rs 55,000 million. GIC’s stake may further increase to 33%?36% in the above?mentioned subsidiaries through an additional infusion of up to Rs 4,000 million within 12?month period from closing.
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.
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